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TextIn the US, it’s the opposite. Since 2000, real wages (adjusted for inflation) have declined. The White House even touts this horrid statistic in its paper, Investing in America: Building an Economy That Lasts. Clearly, the paper is not intended for the rank and file. It outlines how current policies are making America competitive with low-wage countries like China. And one of the principal strategies is ... lowering wages. Graph from the White House paper:
Originally posted by DAZ21
Makes sense. Manufacturing will become viable again. Only thing is the workers will be the ones who suffer. While a few and will get huge gains.
But if it hinders the Chinese and brings manufacturing home, isn't this a good thing?