The rest of the world has finally caught up with us.
Did you think they were going to stay a century behind us forever.
We have been cutting a fat hog for a long time, but now it's over. I don't think it is the government,s fault or business's fault. I really think it all came about because backward countries would send their brightest students to the U.S. to be educated and learn about our ways and then they would return to their own countries and begin to provide goods and services at a better rate than we could provide them ourselves. Remember the trinkets and cheap junk we used to get from Japan and other Asians countries?
Soon they began to challenge us for markets in more and more areas. It's free markets and competition, it's what we preach and now they are using their natural advantages such as lower cost of labor to take it to us.
We have some disadvantages, but so do they. Bottom line is those that can, can and those who can't, can't.
you miss a huge point:
Did private enterprise set up factories over there or did foreign companies from the US do it?
Or did the Communist Goeverment/Socialist Government of that new host country set up those factories?
Over here, people did it with their own money.
is THAT how they did it over there? With an INDIVIDUAL’S money?
Or with a government loan/grant/ownership?
Free Markets CANNOT compete with that if we are reliant upon personal, private money to cover costs and losses and development and THEY use their own government money to create their manufacturing base!