In the days of colonialism the colonies would provide raw materials to their colonial masters who would then manufacture goods to sell back to them. We are now providing the raw materials and investments to enable China to become the economic engine of the world.
I have visited China and seen some of their factories, many of them funded by the West. They have the latest technology and trained workers who work for far less than Americans. It is hard to compete.
No, I don’t mean like Apple phones, which are excellent, but more the exception than the rule. I mean things like tools or machinery or machinery parts. Absolute crap. Then there’s every conceivable little plastic widget a person can imagine: all future trash. But I certainly agree that it’s hard to compete. We used to compete in quality.
It is hard to compete. That’s true, so less competition is the solution?