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Originally Posted by Minte
Look towards the future Paul. Not the past. China is only a few years out from having to pay their working class the same amounts that we pay in the US. China has been successful building their economy on the backs of US consumers and jobs. Once China catches up to the US in wages, then they will have their own market to sell the products they produce.
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Do you know the average wage of the working class in China?
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Workers are demanding a base salary of 1,300 yuan ($205 a month,) but more than that, they want to be ?treated like human beings?, as some put it. They want more respect from bosses, who scold them in front of others, ?confiscate our mobile phones? and check the women?s bathroom.
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And the Government deduct social security payments from that. Go read who owbn the factories.
http://www.asianews.it/news-en/Chine...ect-21915.html
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To answer your snide remark. There are no mega-businessmen here. There are several small business owners that are here. I am about your age Paul. I have been doing what I do for my entire career. Take it for what it's worth.
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When you get your statements so wrong, I guess you're right on this.
I asked on another thread why is GM going bankrupt, no one has yet answered because it's obvious and many won't face the real truth.
GM like many American car producers had a feeling of immunity to the world around them. You would rarely see an American car on the roads of Europe during the heyday of the American car industry. Yet you would see European cares on American roads all the time and in increasing numbers. The bosses and workers thought they had it made. This could be seen in so many industries producing goods for the US market first and exporting second.
Then the world caught up and started to produce the same goods in places where they had to export to survive. And they exported to America/Europe and Americans/Europeans bought them because they were better and cheaper.
The complacency and superiority of these places still exists in America. Mitt Romney stood up and said it was America's destiny to lead the world, have full employment and be rich. It's not, Americas destiny is to get up and compete with the rest of the world to be at the top, or sink down the list of powerful countries.
Great Empires and countries in the past were based on one this. A form of slave labour. Be it Great Britain with a home working class living just above starvation or millions of workers around the world shipping goods for GB to sell, back to the first civilisations. You can't have a great power with everyone worker living like they do in America. You eventually price yourself out of the market.
America grew to be great on the back of two world wars, when most countries couldn't produce any goods in great numbers. Now the rest of the world is catching up, so unless America and Europe can get it into it's head that they need to compete with the up coming powers, they will sink.