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by ethanpailes
34 days ago
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A lot of the reason Chinese goods are cheap has to do with their technical competence, low labor costs and a streamlined industrial system, but they also use a lot of subsidies, currency manipulation and forced investment so you can’t really say that just letting in Chinese goods is in accordance with free market principles without considering their domestic situation. |
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Whatever China is doing with their domestic industry, they're obviously doing it right and actually accomplishing things. There's nothing stopping the US from learning from that playbook rather than laying down and whining about it.
When the rival family across the street has its house in order it can certainly feel like unfair competition when you're too focused on fighting and stealing from your own household to get your head in the game and compete.