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All great points and great questions - today however they're not really available for consideration because those jobs remain in China. I mentioned in another
by ericmay 2y ago
All great points and great questions - today however they're not really available for consideration because those jobs remain in China.
I mentioned in another post, but I think having a 4.2% unemployment rate and putting even more pressure on that rate is a good thing, particularly for workers who will see wages rise, and technology as new automation techniques will be created to also alleviate that same pressure.
The status quo today is, well, we have none of that and those factories sit in China and we continue to buy things and ship them over - not really great for the environment either.
> And if it does happen, we all suffer from several years of being poorer in the mean time.
Yes, that's kind of how America operates - quarter by quarter. We focus on the short-term and worry about Temu products* doubling in price, but fail to see the long-term implications - economic outflows, loss of manufacturing capacity and know-how, etc.
* Yes, I know China manufactures more than these specific products and "we can't", which is all the more reason we need to figure out how to do it, even if it costs more money to do so. Absolute efficiency and the cheapest possible price for a good/product are not ends in themselves, but outcomes to economic policy decisions we make.