I would list excessive regulation, taxation, abuse of civil courts, etc. as even bigger influences in the loss of U.S. jobs and industries than cheap competition from China.
A couple of years ago I predicted right here on this forum that the EPA's decision in the General Electric case in upstate New York would have devastating consequences on the long-term industrial base of this country, and everything I've seen since then confirms this. I could provide details if you'd like.
Sound economics ? It is the free trade argument that is based on pie in the sky wishful thinking. It is the free trade argument that has proven historically wretchedly wrong. Free trade, like utopian socialism, is a textbook theory that just plain doesn't work in the real world because real nations will not sacrifice their power and standard of living for pie in the sky promises of future benefit. When people have decided that cheap imports are not worth losing good jobs the whole structure collapses.
I would list excessive regulation, taxation, abuse of civil courts, etc. as even bigger influences in the loss of U.S. jobs and industries than cheap competition from China.
Nonsense. China has the worst industrial pollution in the world. I read that some 1500 Chinese coal miners died this year in accidents. Do we want the safety and environmental laws of 1900 in order to "compete" ? Do we want to bring back the good old days of the Triangle Shirtwaist Factory fire and company police and company towns and being paid in company scrip at the company store ? And even if we did that would not change the massive wage differential that Joe Sixpack just plain can't compete with.
Yeah, obvious to anyone that it trumps slave labor.
Well, you have that right. In fact, GE is one of these demons who sent every last stinking job of theirs to India.