I don’t think we will have another recession for 7 more years. The 2008 recession lasted over 8 years, from before the end of Bush’s term til past the end of Obama’s term. There was so much pent-up economic potential that it burst loose almost by itself when the 8 years were over, and the deregulating that has happened since has been medicinal in its effects. There are at least 10 years left, as long as regulation keeps being reduced and immigration is slowed down significantly.
As far as China trade goes, China has been reaming us for 2 decades. American companies would open factories over there, and run two shifts, and after closing time, China would run a third shift making the same products using the same materials in the same factories with nearly identical labor. Where do you think counterfeit products come from?
They also take our technologies, like computer chips and software, and duplicate them for their own use and for selling back to us. They embed their code in our devices for who knows what reason. They make spyware and malware and install it on our computers.
They are also very good at making things that resemble real things, so realistically that they can be temporarily used as substitutes for the real things. Take the lowly Phillips screwdriver: They can make something that looks so much like a real Phillips screwdriver that you don’t even know it isn’t real until after you have used it a couple of times and the end is more like an awl than a screwdriver.
They have been flooding our discount stores and hardware stores with cheap crap and everybody knows it is cheap crap and they even say so, but they want to be able to buy it because it isn’t as expensive as good American craftsmanship.
Oh so true. Even the “good” tools are made in china. I bought a name brand phillips that broke the tip off on the first screw.
So true as well on the pent up economy after 8 years of curious george. I don’t know how long it may go but I expect it has some life left in it and renewed life if Trump can pull the china thing off as well as somehow get elected again. Maybe second time the courts will be with him a bit more.
The indians are also good at dimensional duplication but not the metallurgy. Surely someday people will learn value instead of price for just a little while.
Cheap crap lowers the quality of everything.