This has been my drumbeat to the CEOs and pols ever since NAFTA started. "All you are doing is laying off each others customers. What happens to your bottom line when nobody is able to buy your products because they are just making subsistence wages?"
Replies ranged from a pat-on-the-head "Global competition is good", to it's twin, "Free Trade is good". (The last was defined as "we drop our tariffs now, someday they drop theirs".)
What happens to your bottom line when nobody is able to buy your products because they are just making subsistence wages?”
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Grandpappy would have said, “It sho nuff do seem lak da workin folks got tuh thinkin dey cud have dirt cheap prices an high pay at da same time and da zecutives got tuh thinkin dey cud have dirt cheap labor an big spendin customers at da same time. It seem lak dat ain’t workin out too good fo da workin class an it liable not tuh work out too good fo dem zecutives in da end. I speck we might have sum real sho nuff hard times ahead.”