And that’s just the trade deficit. Imagine what the whole ball of wax is. I don’t honestly know, but it has to make the deficit look small in comparison.
The dollars we spend in China, could probably float ten million jobs. Not too worry, this is ever so much better. /s
I mentioned the term ‘multiplier effect’ in the last post. That’s because when $1 dollar is spent here, it is respent by the person making the sale. He has to buy new supplies, pay salaries, pay rents, leases on equipment... Then those suppliers and receivers of his spending, pass it on again.
If were talking about $1 trillion in purchases from China, that one trillion would be from $3.5 to $7.0 trillion in trickle on (or whatever you want to call it) economic activity in the U. S.
We could easily be talking about $10 to $20 trillion dollars in economic activity each year, lost to overseas purchases from China. China is benefiting from this economic activity in it’s economy instead.
So not only are we contributing to the decay of our economy, but we’re also contributing to the militarization and adventurism by China.
You know this, but I’m interested in others seeing the concept, so I responded like this.
Thanks for the mention. This has been an important issue for me over the last 15 years or so.
The factories would have to either be upgraded or totally rebuilt; untold thousands of workers would be hired to work in these factories; the salaries from these workers would stimulate support services (food, lodging, vehicles, etc...); the people working in these support services would go on to the next level; and so on and so forth.
I don't remember the exact details of the talk, but I do remember thinking that if just one or two companies started doing this, and showed their colleagues that it could be successfully done, then things would really change here in America.