Ok, somebody suggested Music, Entertainment, Movies...you, sir, have never been to China, have you?
Why buy something you can get for free? Western movies, music, and the likes, are on sale, everywhere for a few bucks, shortly after being available
in the West...sometimes, specially in Software, before being available in the West...
As for machinery, auto industry, gadgets:
- Ford has just announced a new gigantic factory in China...so the US will get some profits, but no jobs...
- Cat, also is manufacturing in China...
- Of the ~5.000.000 phones, pads, tablets, sold last year by US companies none, that's right 0, where manufactured in the USA (only a couple of
rapidly fleeing assembly jobs).
- Dell, the biggest PC manufacturer in the US, has announced the closing of another US plant...jobs to be outsourced...
American companies are doing great in China, unfortunately, for the workers, this does not reflect in the job market.
Like somebody suggested above, the only industries that can export, and maintain jobs in the US, are the Military Industrial Complex (not sure USA is
willing to export last generation weaponry to PRC); the agricultural industry, not many more jobs to be created here; and, can't think of anything
else at the moment
- Fair Trade agreement? Tax PRC's exports, to compensate for difference in salaries, and other social benefits?
- Penalize US companies that manufacture goods abroad just to then "export" them back to the USA?
- Adjust job market, salaries, benefits, so that the West becomes competitive again? This seems unrealistic, and virtually impossible: the
social/political/security repercussions would be unthinkable...
I don't really see a good way out of this mess, aside from some sort of combination between the first, and second solution, I suggested.
Any good ideas are welcomed. But how do you sell anything to the guy that build everything?
I think the only way out is a long term solution. It has nothing to do with the USA, and everything with the PRC. Like Japan, and SK, before, only an
increase in internal demands by Chinese employees, and the gradual social parity with the workers of the West will remedy the situation...but then,
there is India, Indonesia, Vietnam, Myanmar, and so on...