this post was submitted on 18 Dec 2024
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That's not all. The US government exists to look out for the interests of wealthy americans.
Every dollar spent on a different nation is a dollar that could've been spent on them, in their eyes.
American business owners know that China is competitive because they can provide better products at cheaper prices. Americans would need to invest in making their products better or lower prices to compete with China. Both result in lower profits for owners.
This is why we will never stop seeing FUD against products that offer us a better deal than those looking to exploit us further. It's more profitable to convince useful idiots to "buy american" than it is to actually sell them products worth buying at competitive prices.
Countries like China, Germany, Taiwan, etc. have competitive exports because they have direct and indirect subsidies to their manufacturing sectors at the expense of their household sector.
Some of these subsidies include a weak currency relative to their economy, weakened labour laws, preferential interest rates, capital controls, labour movement restrictions, etc.
China uses all of these. Germany primarily used the Hartz "reforms" which basically decoupled wage growth from productivity and GDP growth.
The reduces the household share of national income and they cannot afford to consume the production of their manufacturing sector and therefore the excess production must be exported.
This comment is suspicious to me. It’s been companies like Apple that have pioneered using Chinese labor to increase their profits. Moving jobs to the USA won’t help make them any richer. It makes economic sense but not strategic sense
I don't think it makes economic sense. Bringing production back here creates jobs, but we have low unemployment so we don't really need more manufacturing jobs here.
It makes sense for national security though.