I believe a lot of this is where China's current deflationary pressure is coming from. China has driven the cost to produce energy and goods right down to the f

I believe a lot of this is where China's current deflationary pressure is coming from. China has driven the cost to produce energy and goods right down to the floor through tremendous scale and efficiency. There doesn't seem to be any sign prices have reached the bottom yet. A lot of parallels to "The Great Deflation" [1] of the late 1800s. Quoting Wikipedia, "The prices of most basic commodities and mass-produced goods fell almost continuously; however, nominal wages remained steady, resulting in a pronounced and prolonged rise in real wages, disposable income and savings – essentially giving birth to the middle class. Goods produced by craftsmen, as opposed to in factories, did not decrease in price" China's system really prioritizes worker and middle class prosperity. Over here in the west we're too busy sliding into a rent seeking oligarchy that we haven't noticed yet. 1. https://en.wikipedia.org/wiki/The_Great_Deflation https://en.wikipedia.org/wiki/The_Great_Deflation