Will the decades that the United States sapped its manufacturing and middle class in order to stimulate economies in lesser-developed countries around the world eventually pay off when these same countries become huge customers for American products and services? This promise certainly was the implication of our previous hurtful yet hopeful trading practises. If this doesn't occur, then we were gigantic suckers. If it does, then we were geniuses.
Which will it be?
2 comments:
We are suckers. Remember Wal-Mart’s mantra that “prices are falling” ? That was because they were helping China grow while killing American manufacturing and American downtowns. Somebody needs to take the Waltons to task for their distortion of their father’s mantra of “Made in America.” Sad.
Wal-Mart China sells goods 95% manufactuted in China. Only the profits come home to the USA.
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