This post proves again the pervasive misunderstanding with tariffs. Both sides are hurt by tariffs. Tariffs are not some magical device where China is “punished” and comes around. The US is “punished” as well.
I am not a big fan of tariffs but there were economists that have been sounding the alarm bell way before Trump came down the escalator in 2015 on the trade imbalance with China, as well as currency manipulation and intellectual property theft.
There are smart ways to deal with those situations. Then there are heavy-handed unilateral Trump actions which appear to be hurting more than the underlying trade and property issues were. I agree action was/is needed. One country, even if that country is the US, trying to bully China into submission is not the way to do it.
It would be nice to see a coalition take aim at them. I must admit I am in more in Sanders and Warrens camp on China than I am Biden’s. I don’t know the answer to China it seems like a big mess that was caused by big businesses gobbling up slave labor while our government looked on. I am sure I am over simplifying it, but after watching a documentary showing the inside of what I think was the Nike or Apple factory it was disgusting the conditions they work in.
The problem with targeting one country for cheap labor, is that companies simply move to the next poor country. Many companies have already been moving to cheaper labor markets as China’s economy continually increases salaries.
China didn’t force US companies to exploit cheap labor.
More so caused by Americans never ending need to buy ■■■■ and that ■■■■ be the cheapest they can get it. Business only facilitates transactions, its consumer demand that drives that facilitation.
What’s really funny is one of the biggest markets that is pretty much the exact opposite of that phenomenon, and that is smart phones. We seem to love our really expensive little gadgets.
Even more ironic is how many people fight tooth and nail to keep people from earning a decent wage here, fight against safety regulations, and then turn around and Express outrage at the working conditions in some of these other countries and their standard of living.
With a lot of products, if you streamlined the supply chain, manufacturing process, training, etc, the cost of labor wouldn’t make the product that much more expensive. One of the biggest reasons to get products made overseas is infrastructure.