Unintended Consequences in the quest for ever-lower wage rates: China goes from a sleepy agricultural economy to an industrial giant, benefitting 1000 executives in 100 U.S. companies. But now they are competing for energy, which increases the price. You can add steel and aluminum to the list. Before long, prices will go back up to where they were when Americans were making the products, but the market will still be controlled by Chinese. And the benefit is...?
Walmart is indeeed a great retailer. You seem to have a problem with them, but they have lowered the cost of many items. \
China is not just sold in Walmart. Go to RadioShack, or BestBuy, go to any clothing chain, or hardware store. Check out the local furniture shop. What used to be made in NC, is now coming from Kaitung...
The average American makes twenty times what a Chinese does, and spends it the same way. First for a roof overhead, then food, then comes everything else. We have a lot more for everything else... and thanks to our needs, so do the Chinese, now... But, we have given them technology for free, and that is the biggest danger... Loral, et al, were FOB's, and Billary sold out our soul, and our secrets! We just pay for it, now and in the future!
Yes they are great. Before people go jumping all over Wal-Mart be reminded of the constraints placed on them from government oppression. It's not their fault that it's cheaper to make a pair of jeans in Beijing. If American businesses could throw off the yoke of over-regulation and wasted revenue to prepare their taxes, then perhaps we could make some cheaper products in America. The minimum wage, OSHA, EPA, and the IRS are the problem.
And despite all this Wal-Mart continues to be a shining example of what we can do with limited freedoms. Wal-Mart fights the war the best they can to live up to their customer's expectations.