No. The wage differential dwarfs the cost of regulation compliance. So eliminating the costs of compliance isn't enough to solve our problem.
Do you want workers choked by smog like they have in china? Do you want buildings that collapse on workers like they have in China? It's okay to have compliance costs with reasonable regulations. But regulating and then opening your market without restrictions to countries with no regulations is an out of business strategy. Just don't do it. Restrict foreigners with a tariff.
Some of our regulations are good. Some aren't but that balance is an ongoing battle.
Ahh then you missed the part where I showed the Gub'ment added to this problem by instituting the unfunded mandate of mandatory minimum wages.Also Obamacare and so on and so forth.
Face it all you are doing is more of the same and claiming it will magically fix everything.
It won't.
Every time the government tries to "fix" the situation they make it worse.
The time for fixing the system is over. Its time to dismantle the system and start from scratch.
Until that happens nothing will change and all your plan will accomplish is exactly two things.
1. Jack
2. Sh!t
How much is the cost of regulation compliance?