The $2 pancake flipper made in China is most likely made by a US company in China that employs Chinese people. And you can buy it at Walmart!
Actually, I'm referring to trends set about 4+ decades ago, and ever since.
If you knew what you are talking about, you'd know that is any USA, or 'Western', company/corp. has any real investment in CCP China, the majority ownership and control is in the hands of CCP China! For that matter, usually "owned" by the military of CCP China if one digs deep enough.
A couple of decades back, the employer I worked for, sought to break into the "China market" and found they had to provide proprietary production tech and let CCP China have major ownership and control. We in the West are more at their mercy and control than most realize.
America is now paying the price for allowing unfettered capitalism to run off to China.
Always refusing to consider 'social responsible' government that could have put the brakes on long ago. Chickens and pancake flippers are coming home!
America (USA) has no monopoly on "capitalism". We still have such to some degree here, as do other nations. The fundamental aspect of capitalism is operating at a profit, wealth creation; versus the socialist aspect of "wealth redistribution". Capitalism depends upon incentive and proportional rewards(profit) where socialism operates on coercion and taking of wealth/production (redistribution). Socialism kills incentive, which is why it consistently has failed in the past century plus.
"social responsible" is just another term for the non-producers to plunder and steal from the producers.
And so now it's time to blame the left for capitalism in it's purest form?
Profit vs. loss is very basic and easy to understand. Nothing shall get in it's way!
EXACTLY!
Either one operates efficiently and effectively = profit, or you operate at loss = costs more than you gain. Operating at a loss means you loose your investment and go out of business. Operate at a profit and you can expand and/or hire more employees. In the case of public held stock this means your investors have gained and can accumulate wealth.
In the USA, many citizens invest in IRA or 401K which in turn invest in stocks and bonds of businesses which hopefully make a profit and grow in wealth and value, hence the shares held by those invested in the IRAs and 401Ks (and union pension funds as well) will grow in value and be able to provide the retirement incomes they were designed to help provide.
We do it a bit different in Canada, so ask me about it if you want to know. We allow some certain factors to get in the way!
I live within a dozen miles of the border and know all I need to of how that works.
1) Being sheltered by the USA, the bulk of national defense for Canada is under the umbrella of that of the USA, so Canada needs only pay for and provide a token share, the majority being covered for by the USA and it's taxpayers.
2) Canadian economic controls produce significant consumer shortfalls. Prior to Covid, the parking lots of the big-box stores, and many medical clinics here, often had as much as a third of the vehicles there bearing Canadian(B.C. mostly) license plates. Canadian shoppers down here were loading up on dairy and petrol mostly, and a few other basic consumer items, before going back North with such.
3) Canada would being doing so well if it shared most of it's border with another nation like say Mexico, or Russia. Since it has the USA as it major(only) neighbor, it thrives off the USA largess, a form of subsidy.
