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by toomuchtodo 1043 days ago
In international trade, this is usually referred to as “dumping.” VCs simply adopted it domestically in a low regulation environment.
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Imagine the kind of carnage that would happen if China ceased its shipping subsidies and started charging Western World prices for labor and materials.

They could throw the world economy into a massive recession and would probably trigger WW3 by simply paying their workers American minimum wage.