"2008 has been a year when U.S. exports acted as a "shock absorber" for the economy..."
Right, our trade deficit is only about a trillion dollars.
Rather than tunnel vision on what we could do to them (exports), one should give some serious thought to what they can do to us, which has far greater potential due to the enormous disparity between our labor costs and China's, for ex. Globalization is just getting started, and already China makes 50% of the world's good. Wait till they start exporting cars, planes, and services. The US has been a leader in financial services, but how much trust to they retain after the latest scandals in investment banking?
Luther
of IL
@
Dec 22, 2008 03:25:49 AM
Free trade is a joke
How in the world can anyone believe that we can have free trade with countries that have 1/4 or less of the standard of living that we do?
How many Mexicans are buying a GM, Ford, or anything else made in this country? I forgot we gave them the manufacturing so we could afford the crap we want. Great trade policy.
Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.
Luther of IL @ Dec 22, 2008 03:25:49 AM
Larry of CA @ Dec 19, 2008 17:35:26 PM
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