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China

(drewdevault.com)
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mc32 ◴[] No.21585110[source]
>”It’s economically productive for the 1% to maintain a trade relationship with China. The financial incentives don’t help any Americans, and in fact, most of us are hurt by this relationship...”

So true, since its inception with GHW, its execution and realization through Clinton and then once fully engaged the timid, supplicant responses from GW and BO, China has contributed to the stagnation of the blue collar worker on America with the full complicity of Democrats, Republicans and most of Industry and even unions who didn’t oppose their cozy politicians. They all only saw starry dollar signs...

That’s where we are now. People have had enough. That’s why they put up with the guy no one likes because he’s willing to sever that codependent relationship.

Now, if you ask any pol running for the nomination who the greatest threat to America is... it’s not going to be China...

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Barrin92 ◴[] No.21585355[source]
most of the job losses of blue-collar work are the result of automation, not foreign trade (this is a statement for which ample evidence exists[1]), furthermore on the aggregate Americans do benefit from trade with not just China but also other low-cost nations, which again is economics 101. If the United States were to produce goods at the level of domestic wages a small segment of the workforce would benefit, but consumers on average would lose out due to the increase in price. The price for an iPhone could go from ~850$ to ~2000$[2]. Now imagine that this happens for every good that is produced largely in China and think again if bringing back a few ten thousand jobs is worth the total loss of consumer welfare in the states.

Also, it goes without saying of course that it would also hurt the Chinese workers who are equally deserving of good employment as their American counterparts, and it's not clear why discounting their welfare is anything other than tribalism.

[1]https://www.nytimes.com/2016/12/21/upshot/the-long-term-jobs...

[2]https://www.aei.org/carpe-diem/how-much-would-an-all-america...

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1. vkou ◴[] No.21587703[source]
> he price for an iPhone could go from ~850$ to ~2000$[2]. Now imagine that this happens for every good that is produced largely in China and think again if bringing back a few ten thousand jobs is worth the total loss of consumer welfare in the states.

And it wouldn't matter one whit, because 90% of the expenses of the average American aren't going into buying consumer goods.

They go into buying transportation, medicine, education, food, and housing (With the price of housing rising to consume all of the middle class's economic surplus). None of those things are made in China.

Housing is the most fun one, because no matter how much people save, the price of houses rises to eat all of those savings. The only reason for why a house can cost a million dollars, is that people have saved that amount of money up. If that money weren't there, housing prices would be lower.