"Richard J Kinch" wrote in message
...
Carl Byrns writes:

If the labor rate in China really is 80 cents an hour, then it's game
over, the Chinese are the winners, and the rest of us better get
comfortable with being farmers because we will be the new peasants.

By that logic, if they gave us all their labor for free, we would be even
worse off.

Do you curse the sun for flooding us with cheap, imported light?

It's true that cheap imports can be a benefit, but that assumes our economy
can grow fast enough to replace a lot of well-paying jobs lost to imports.
When the trade deficit gets as large as it is today ($418 billion deficit,
goods and services total; goods alone are around $460 billion deficit), it
probably can't. The job-growth rate and average new-job wages would have to
reach heights we've never seen, and which there is no indication we ever
will.

Ed Huntress