shockedcanadian
Diamond Member
- Aug 6, 2012
- 32,037
- 29,421
- 2,905
I'm a Democrat but I've gotta admit it's now Trump 2, Dems 0
An interesting article that I think summarizes some thoughts for many people. Even laissez-faire economists like myself have to consider the long term ramifications of arming China, which big business has. It's one thing for China to remain peaceful, quite another to watch them militarize and expand into the South Sea.
A small section from the article:
To be sure, Americans have gotten a lot of cheap goods in return for this deal. But there’s a catch: millions of voters no longer have the jobs – or a livable income – to afford them. Initially, economists believed that this would be a temporary condition. Surely, they argued, these unemployed workers would find new jobs that paid just as good as the old.
Last summer, however, academics released a study that took 38 pages to acknowledge the obvious: they were wrong. It turns out that our political class had sold off the American dream to the Chinese and given blue-collar workers – and their communities – an economic nightmare in its place.
But it gets worse. That’s because China hasn’t been content to just take American jobs through unfair competition. They’re stealing them via cyber-warfare too.
An interesting article that I think summarizes some thoughts for many people. Even laissez-faire economists like myself have to consider the long term ramifications of arming China, which big business has. It's one thing for China to remain peaceful, quite another to watch them militarize and expand into the South Sea.
A small section from the article:
To be sure, Americans have gotten a lot of cheap goods in return for this deal. But there’s a catch: millions of voters no longer have the jobs – or a livable income – to afford them. Initially, economists believed that this would be a temporary condition. Surely, they argued, these unemployed workers would find new jobs that paid just as good as the old.
Last summer, however, academics released a study that took 38 pages to acknowledge the obvious: they were wrong. It turns out that our political class had sold off the American dream to the Chinese and given blue-collar workers – and their communities – an economic nightmare in its place.
But it gets worse. That’s because China hasn’t been content to just take American jobs through unfair competition. They’re stealing them via cyber-warfare too.