Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
Old 08-24-2017, 12:32 PM
Location: San Gabriel Valley
509 posts, read 485,025 times
Reputation: 2088


Originally Posted by NJ Brazen_3133 View Post
You had toys made in Japan. What were those: ninja stars, toy katanas'?
Are you kidding? Japan (after WW2, not the 1930's) made everything you could buy at a five and dime. Toys, balls, cheap clothes, ballpoint pens, lighters, you name it...

By the 1960's they were up to transistors, by the 1970's, televisions and stereo components, by the 1980's, automobiles.

South Korea followed exactly the same trajectory. Made in Korea stuff started appearing in the 70's and 80's as Japan exited low-end manufacturing.

In the 1990's, I noticed more cheap stuff bearing India and Vietnam as the place of manufacture. Now, most of it is from China.

It's a ladder.

Globalization opened up cheap labor to the world, and as "first world" countries see their wealth shrink, people resort to buying more and more low-end goods. One possible outcome of this is that when Americans become poor enough, they may start becoming an attractive choice for manufacture again. However, they will have to fall much farther before this becomes a reality.

America has pursued what might be called inadvisable trade policies for a long time, but in a lot of ways this situation was inevitable anyway because of how technology has shrunk the world. The problem is, once embarked on this path, there's no real turning back. Extreme protectionism will end America's competitiveness in the world, and ensure that China calls the shots for the world's future for the next century or two. You don't see a lot of Chinese at the Dollar Store in America; they don't have to resort to buying cheap junk like Americans do.

Thirty years ago people started floating the notion that Americans will have to get used to being much poorer than they were in the 60's. Well, now we've reached the age in which that reality is becoming more acutely felt. I don't necessarily blame this on globalization, which was going to happen anyway. A lot of factors played into it. But as long as Americans don't want to work for $2 an hour, there will always be a flood of cheap imports, an ever-shrinking manufacturing base, and a lot of immigration in.

Americans themselves should also take some blame for this. Americans have been credit-happy, living beyond their means for decades while Chinese and Koreans and Japanese saved money and increased personal wealth. They are now reaping the rewards of climbing up the ladder, while strapped-for-cash Americans stumble down the ladder.
Reply With Quote Quick reply to this message

Old 08-25-2017, 09:16 PM
17,874 posts, read 15,947,840 times
Reputation: 11660
Holy necro Batman ! ! ! !

I have to reread everything.

But is there still not such a thing as a labor war?
Reply With Quote Quick reply to this message
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top