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by alan_cx
5228 days ago
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Well, there's your problem. First World countries now need to compete with Third World countries. Its what unregulated capitalism does. It cant happen and wont happen, but this downward spiral of competing to the floor can only be stopped if the entire world sets minimum standards of employment. Even them places like the US and EU will need to revise down, while the likes of India and China will have to revise up!!! Best bit, is we all cause this, no, we demand it when we are purchasing. Free shipping, lowest price for highest quality, etc. Are "we" willing to pay more to get less, so that people don't get exploited? Nope... |
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This is preposterous. The "downward spiral" as you call it is already slowing, as can readily be seen by many US companies "reshoring" jobs now that China's labor costs have risen so dramatically.
India, Vietnam, Bangladesh, etc., are all following suit because as demand for labor in those places increases, so does the price of that labor. No government intervention necessary.