"This is further exacerbated by the fact that the Chinese can make any consumer good that might be produced in the USA for far cheaper in China."
Tell the president that all the Chinese are saving their money to buy Escalades and bling.
Our exports to China have tripled since 2000, and through the first half of 2006, U.S. goods shipped to China are up more than 40% over prior year and are on track to hit $60 billion.
The average Chinese person simply doesn't make enough money to buy anything made in the USA.
Looks like wages are increasing at a rapid pace. That has a lot to do with the dramatic increase of American made goods sold to China.
Competition for managers, engineers and other highly skilled labor is especially intense and job-hopping for higher pay is rampant.
"Wages in China are definitely going up at a fast pace," said Behlen Chairman Tony Raimondo. "The movement of land value and wages has surprised many of us."
Chinese Wage Growth Surging, But Hasn't Fueled Higher Prices
What would occur is that an open Chinese market would be clamoring to buy US goods, all of which were made in China by themselves at ridiculously low wages. With so much disparity in pay, working conditions, laws, protectionism, copyright infringement and purchasing power, I'm not sure this equation will ever balance out. When someone in China wants a pair of Levi's or Timberlands, are they going to pay US prices and support US companies, or are they just going to make themselves a pair during their break? We still have abundant food and rock'n'roll though, so we have that going for us, and that's nice.