Supposedly China's poised to pass the US in manufacturing - is this bad or good for the US economy?
Best Answer
206 points
DirtyD answered 3 months ago …
Not a good or a bad thing, it's just the way it is. China has a massive, low-cost labor force. If we outsource manufacturing to them, our companies earn greater profits and can invest those into expanding their businesses and infrastructure projects within our country. The bigger the pie gets, the better it is for everyone. I'm a big believer in Economics 101: specialization of labor!
Read more from DirtyD great answerAnswers
249 points
BoxCar answered 3 months ago …
Presto used to manufacture electric skillets in our town of Alamogordo, NM and had a facility over the border in Mexico. Early this decade they packed up BOTH plants and shipped them to China- A $14/hr foreman told me the Chinaman who took his job only made $14 PER WEEK!!! So its "Made in China.....by slaves" that we have to deal with- Only thing Free about China's economy is the cheap labor used to produce goods. Nazis Germany also developed cheap labor sources. Whats the diff
Read more from BoxCar flag as abuse great answerMore from this Category
Chinese government forecasts 10% growth next year - should we buy into it?Asked by mgscott in Foreign Markets 21 hours ago
Any India stocks or ETFs to short given all the turmoil?Asked by ThaDRAGN in Foreign Markets 3 days ago
Thinking of shorting the hell out of FXP and FXI on Friday - thoughts?Asked by MajorPayne in Foreign Markets 4 days ago
Will the events in Mumbai impact the US markets at all?Asked by Intern in Foreign Markets 5 days ago
What happens if China's stimulus plans and interest rate cuts don't work?Asked by Informer in Foreign Markets 5 days ago
