Quote:
Originally Posted by JohnR
Weewee, the prejudice is not irrational. Our country's lack of desire to deal with, compete, and force a level playing field is irrational.
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uh, we can't force a third-world country with a much lower cost of living (versus the US) to be a "level playing field."
the only thing that China has "fixed" is its currency. Even if the currency is allowed to double vs. the U.S. dollar, we'd still have a huge trade deficit with China.
China is coming along in many respects ... it's the old Red Guard that's holding it back with silly insular regulation. When they die off, changes will accelerate.
China is not going to be like this forever. At some point, the growing Chinese middle class, who have a savings rate of 35% (vs. negative for us) are going to be spending money on American things. Maybe Van Staal reels.
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