That is simply not correct, and would not be stated by anybody who has ever read a basic economics text. When nations trade, they each produce what they have a comparative advantage in. Comparative advantage and "cheapness" are not the same thing.
If anyone doesn't understand this, just google "comparative advantage" and become enlightened.
Yeah, I posted “Great read” before I read the whole article. By propping up our own failing industries whom produce inferior products we’re basically saying it’s okay to continue producing shitty cars and what not. Personally, I drive a Toyota would never trade it for a Ford, GM, or Chrysler POS.
“That is simply not correct, and would not be stated by anybody who has ever read a basic economics text.”
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Seems to this poster, ‘basic economics texts’ are a bit like lawyers.
Nations do not necessarily produce what they have a comparative advantage in - it depends on the leadership and wisdom driving trade decisions in each country.
America has for a long time, been led down the path you describe. A few people have become very wealthy by demolishing entire segments of our once-historic manufacturing base, and sending strategic capabilities to communists and people who seek our destruction.
Those few people have gotten rich, by selling us out.
There’s a word for that. And it’s not “economics”.