Quote:
Originally Posted by Herr-Berbunch
(Post 1523535)
Yes, they may be of better quality now, they may be cheaper, but at a cost to the labourers and the evironment!
Chinese labour rates are about 2-4% of the US rates and about 15% of other 'sweatshops' of East Asia. (Data taken ~2006) Although alot of the textile manufacturing has been moved to places like Bangladesh, and alot of the more simple electronics manufacturing to other East Asian countries meaning that China can concentrate on the more lucrative end of the electronics market. Even if there was a tremendous increase in pay they would still be well under rates from just about all over the world.
And for the increase in this high-end electrickery, more premises, more power, more fuel, more ecological disasters just waiting around the corner. :nope:
But we as an end user have very little say, and put our money in the cheapest possible pocket most of the time making it one vicious circle.
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Yes, but still - their economy which we helped them to raise and to bring into a shape where they can harm us, is crushing ours. China is Germany's most important export partner nation, if I remember correctly,more important for us now than the US, but they need our knowhow and the technology transfer of the past three decades less and lesser - which will come at a dramatic cost for Germany. America, having eroded it'S economy probably beyond repair by pushing "globalisation", and having lost most of it's competitive heavy industry to Asia, almost all, already feels the burden, and is helpless. Consumer items "made in the US" also are in no high global demand. Silicin Valley is not as important anymore as it once has been, too. All the US can do is buying time by printing money - which the Chinese answer on equal terms by printing money as well to keep their own currency low. In this race, China has the longer breath now, I think, and I am still stunned that it does not seem to have rang any major alarm bells in American media that some weeks ago the Chinese declared a policy chnage and now wantz to ficus on strengthening national demand. Which means they want to depend less on selling to America. Which means American bonds will further lose in importance. And that will do further damage to the already dangerously ill finances of the US. Prnting mony may buy them some time - but it raises their longterm problems, and the damage for all others as well. It does nothing to adress the roots of the problems.
In a way, it is unfair to blame Obama for the economic situation. He is not responsible for the current state of things - only for the promises he made to asdress them, which obviously he - or any other president! - is impotent to do. As I see it, America is running out of options, and very fast. To print more money and push inflation intnetionally, just willö add to the damage to the markets, in the long run.
Our ancestors have been there before, and we are heading there again. Stupid us, but our troubles are home-made.
As far as Europe is concerned, we will contiunue to lose in international importance. The ignoring of the Europeans by India and China during the last international climate summit, was just a glimpse at of things to come. I mean, nobody outside Europe takes the EU serious anyhow. The way Europe had arranged it'S social wellfare states, said a comment in a paper two days ago, has become the textbook example for other continents of how NOT to do it. It is a guarantee for reaching national bancrupcty as soon as possible. The costs are destroying us from within. Our demands are beyond what we can afford.