And when the standard of living rises enough in India and China, that the workers there are no longer content with living in huts and foraging for food but demand and get more pay—what will happen to your cheap imported stuff?
Who will vote to stop the government from the endless printing of money to pay its runaway budget when the people aren’t experiencing the pain of higher prices because of cheap imported stuff?
Then who will sell us stuff at any price when the dollar is all but worthless and foreign workers expect to be paid enough to live like Americans lived when America was prosperous?
And when the third world is fully industrialized and prosperous, they will no longer be living in huts and spearing fish, but will be COMPETING WITH US BY BIDDING UP THE COST FOR RAW MATERIALS AND ENERGY. WHAT WILL THAT DO TO THE COST OF ANYTHING WHEREVER IT’S MADE???
It will be 50-75 years before wages in China & India catch up to USA levels all around. Only isolated skills in short supply get USA style wages in those countries.
Dollar is already worthless but not because of outsourcing but by printing Trillions of excess dollars to pay for the monstrous deficit spending. Try traveling in Europe, Japan, and large cities in Asia to find out first hand how worthless US dollar has become.
There is no civilization, kingdom, empire, country, etc in the history of world has stayed on top for ever. India and China had highest GDP in the world for over thousand years ending around 1700. United States no longer has the monopoly on manufacturing it once had after factories in Germany and Japan were leveled. Our standard of living will keep going down while the poorer countries of WWII will get richer.