China didn’t “steal” those jobs. The 80s macho culture of offshoring, outsourcing, corporate downsizing and asset stripping is what exported that labor.
Thatcher copied the USA when smashing the National Union of Mineworkers, and as an indirect result of her government winning that fight, we’ve lost the industry completely, hundreds of mining towns and communities were smashed up... And, we simply offshored most of the jobs in our fossil fuels industry to Russia, and steel jobs to India and China.
There was even an argument at the time that not only was this a positive shift to cheaper and more reliable sources, the more we offshored jobs to India, China and Russia the faster they’d develop.
Also, the carpet baggers got very rich.
My dad worked for a commercial firm that got the Wall Street / Office Space carpet bagger treatment. 80% of UK jobs were transferred to another country, and a lucky 5% had their redundancy delayed while they had a six month extension, fully expensed, to travel with the machinery to foreign lands to install the kit and train their replacements.
They 1000% stole the jobs.
They were sending finished product here cheaper than US manufacturers could buy raw materials-
which excludes the labor.
the lack of labor and pollution laws=stealing.
If you tell us how to out compete?
Romney was a king of outsourcing-I hate him already-the other choice is distribute for china instead of making it or close the doors.
The reality is one would have to be on LSD to start a labor intensive business in modern America. The all in tax and regulatory burden is insane before one actually has to deal with modern Americans.
Likewise the brash 80’s-aka the beginning of the computer chip prolierating globally improving the lives of every man, woman and child on earth is the result. Dino tech was starving for capital. VC went 2-3%/mo to 1%.mo. The next thing we know the computer chip was ubiquitous. Deregulation=we finally got cell phones as evidence exists Ma Bell inhibited us fr getting them sooner to protect the monopoly.
and on top of it-
the overcapacity in Asia fr the ‘87 crash which the Nikkei just recovered from recently-
saw product still being dumped here at a loss 20yrs later.
There was no competing besides labor/pollution-
ofc they ramped up state of the art manufacturing to meet our rapidly growing demand-we’re competing against the best machines. Which when things go south just keep pumping out product which is eventually dumped here at a loss.
And stupid low IQ voters keep the carpet baggers in power.
This is exactly why the deep state hates Trump. He reduced their profits and will do it again.
China did not literally steal middle class manufacturing jobs. Those jobs were transferred their by the deep state.
While no jobs went to Russia. So which country went from poverty to world’s largest economy based on purchasing power?