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I am old enough to remember a whole bunch of similar nonsense written about the Japanese. They were supposed to work cheap in some sort of drone like existence without strong innovation or technological superiority. History proved that to be nonsense. First they copied, then they developed their businesses and excelled with technology. The Chinese are doing the same. First they started with simple, labor intensive manufacturing. Now they have a huge army of highly trained engineers, scientists and technologists. They are not from a different planet. They know how to excel, create and innovate.
Yup, the Japanese did a lot of copy and steal after WWII. Seems the Chinese are doing the same. At least for now. Soon they will lead and we will be trying to catch up with their technology.
Yup, the Japanese did a lot of copy and steal after WWII. Seems the Chinese are doing the same. At least for now. Soon they will lead and we will be trying to catch up with their technology.
The difference is that Japan is a small, politically stable country of 125 million. China is enormous, politically unstable, and has a population of 1.37 billion. China has 10x more smart people than Japan. Japan could only grow so far before they ran out of smart people to expand. Japan is now experiencing a rapidly aging population and population contraction. They peaked in 1990 and are an important first world country but Japan, Inc ran out of steam.
China is politically unstable. It's an authoritarian dictatorship with national ownership of a huge fraction of production. Lots of it has all the mess of the old Soviet Union. They kept adding capacity to their steel industry. They crashed the world steel market and can't go bankrupt since they're state-owned businesses. The whole economy has been fueled with borrowed money. China has a 280+ debt to GDP ratio. If they stop borrowing, the whole thing collapses. The country is also incredibly corrupt. They're going to have some big economic problems soon and it's tough to guess what will happen because the country is so politically unstable.
We’ve left the topic which is “Am I the only one that believes manufacturing is not coming back? A new era is here”.
I’m among the proponents of USA adopting a specific unilateral Import Certificate policy for conducting our global trade of goods. It is a unilateral primarily market rather than government driven policy that’s entirely funded by USA purchasers of foreign goods.
Google Wikipedia’s article entitled “Import Certificates”
and/or
the paragraphs entitled “Trade Balances' effects upon their nation’s GDP”
within the article entitled “Balance of trade”.
I do not know that it would not restore USA’s manufacturing industries to their prior eminence. But I have complete confidence that USA’s adoption of the Import Certificate proposal would be of net economic benefit to our nation.
It’ll increase USA’s GDP, numbers of jobs and their purchasing powers more than otherwise; “otherwise” being if the USA does not replace our current trade policy (or aimless lack of policy) with the Import Certificate policy or another trade policy superior to an Import Certificate policy.
Originally Posted by YellowSnow:
The industrial revolution brought the young people from the farms to the cities. And people thought then things would never be the same. And they were right. Now we are in the midst of a double whammy, the technical revolution and globalization. And again, things will never be the same.
We have been left with an abundance of jobs that don't pay enough to live on. It's almost exclusively the middle class jobs that have left the room. The step up jobs that people worked hard to get. I am pretty sure we are headed for trouble when people figure out there is nothing to work towards and they can never get ahead. Especially when that's the majority of the people.
Quote:
Originally Posted by Led Zeppelin
Boy. Have people ever been sold a barrel full of snake oil or what.
This didn't magically happen. And it wasn't naturally inevitable. It's deliberate.
Led Zeppelin, no it’s not deliberate; the natural consequence of “pure” free trade is the production cost advantages of lower-wage nations.
There are undeniable benefits due to competitive market places but trade deficits reduce their nation’s GDPs more than otherwise.
The detriment is primarily borne by employees, their dependents and any other enterprises that are sensitive to the reduced numbers and purchasing powers of the nation’s jobs.
Google Wikipedia’s article entitled “Import Certificates”
and/or
the paragraphs entitled “Trade Balances' effects upon their nation’s GDP”
within the article entitled “Balance of trade”.
We’ve left the topic which is “Am I the only one that believes manufacturing is not coming back? A new era is here”.
I’m among the proponents of USA adopting a specific unilateral Import Certificate policy for conducting our global trade of goods. It is a unilateral primarily market rather than government driven policy that’s entirely funded by USA purchasers of foreign goods.
Google Wikipedia’s article entitled “Import Certificates”
and/or
the paragraphs entitled “Trade Balances' effects upon their nation’s GDP”
within the article entitled “Balance of trade”.
I do not know that it would not restore USA’s manufacturing industries to their prior eminence. But I have complete confidence that USA’s adoption of the Import Certificate proposal would be of net economic benefit to our nation.
It’ll increase USA’s GDP, numbers of jobs and their purchasing powers more than otherwise; “otherwise” being if the USA does not replace our current trade policy (or aimless lack of policy) with the Import Certificate policy or another trade policy superior to an Import Certificate policy.
It seems some countries are seeing that Globalization doesn't work all that well either. I'd look for more unraveling coming soon to a country near you!
It seems some countries are seeing that Globalization doesn't work all that well either. I'd look for more unraveling coming soon to a country near you!
I am old enough to remember a whole bunch of similar nonsense written about the Japanese. They were supposed to work cheap in some sort of drone like existence without strong innovation or technological superiority. History proved that to be nonsense. First they copied, then they developed their businesses and excelled with technology. The Chinese are doing the same. First they started with simple, labor intensive manufacturing. Now they have a huge army of highly trained engineers, scientists and technologists. They are not from a different planet. They know how to excel, create and innovate.
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