They will come out the woodwork with the same old tired phrases, you know the ones---ALL they sell is stuff made in China, etc...... Can't wait for the old tough guy, Kelly, to start the insults again.
ROFL!!!!
Yup........Happy New Year!
Laffer was on Sean the other day and addressed this. He said the Chinese have "out-sourced" their entire economy to us--they are completely dependent upon their ability to make stuff we want to buy.
This has led to good quality and low prices for goods Americans don't need to make for themselves. This in turn has allowed Americans (according to Laffer) to make more complex, expensive stuff to export around the world.
One thing Laffer didn't bring up, but his comments brought to mind for me was that, if China truly is dependent on selling goods to the U.S. and finds itself more and more trying to turn on the spicket---
well, hell's bells, one big effect of that is that prosperity--some resemblance of capitalism, economic freedom---spreads more and more in China.
With economic freedom, political freedom begins an inexorable march.
So when I shop at Wally World, I'm pumping the U.S. economy and promoting the cause of freedom in China. Cool!