Quote:
Originally posted by bling trade
That's not true. If Japan, India, China, and the Middle East stopped stockpiling US dollars, the cost of imports from those countries would increase by like 30%, so imports from those countries would fall. Costs in Asia would increase dramatically if countries there enforced patent and copyright law, instead of allowing rampant piracy, so Asian countries had to pay for IP or invest in R&D instead of just stealing from US companies.
And 30% makes a big difference. For example, WSJ coverage says that engineers in India are now making 70% of what engineers in the US do.
|
So we'd succeed in causing imports from those countries to fall. But how does that bring jobs back to this country when the US manufacturers who compete with the companies in those countries importing to us still employ large workforces overseas?
If I'm a US company building chainsaws in a Mexican factory, why would the fact that I don't have to compete as much with Japanese chainsaws in the US market cause me to shift my labor force to the US at a huge cost increase? Why wouldn't I exploit having the best of both worlds?
