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by ekr
2439 days ago
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> It creates local jobs for people with fair wages, social security and good quality of life, we should strive to have more of our stuff produced in the west. I don't really agree with that argument from a humanitarian perspective. That would simply further increase the vast economic inequality between the west and the rest. Even with lower wages, people in China are better off with more jobs than fewer. People in the Czech Republic for instance have more safety nets, more alternatives and opportunities. |
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Making products locally maintains a higher standard of living and can limit dependencies on others.
Not doing that takes a nations to largely service economy status and when that matures the standard of living declines, infrastructure development slows or stops, tax revenue goes down, and demand for new products gets tepid.
In short terms, the boost from cheap stuff is nice. As wages flatten, that cheap stuff becomes not so cheap and improving income more difficult.