China, producing cheaper goods that allow consumers to get the same quality of product for less money, thus leaving more money in people’s pockets.
The Financial Times.
How dare they??
bUt At wHAt COsT?
At the same time, cheaper Chinese exports will intensify complaints among western manufacturers about unfair competition.
Sucks to suck 🤷 Maybe try central planning, state banking, and state-controlled means of production, thus lowering the cost of manufacturing. Maybe don’t let the Finance, Insurance, and Real Estate (FIRE) sectors strip the copper out of the walls (PDF).
“China spent 20 years destroying emerging-market competitors in the manufacturing space, or at least squeezing them out of global markets. Now it’s threatening to do the same to advanced economies’ manufacturers,” added Robertson.
Nobody put a gun to Global North capitalists’ heads and made them offshore their manufacturing and de-industrialize their own countries.
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