reply to post by lampsalot
Globalization means that as Chinese wages rise, American and European wages drop. The super rich, on the other hand, do very well out of
Since 1978, adjusted for inflation, the average wage in the USA has dropped from $48,000 to $33,000, while the top 1% has seen their average income
treble to $1,100,000.
Globalization does make people in the developing world richer. Unfortunately it also makes ordinary people in the developed world poorer.
How couldn't it, when American companies build factories in China, meaning that American workers are competing directly with Chinese workers for
Globalization is a ploy for the super rich to get richer, while dishonestly being sold to the rest of us as a good thing.
edit on 5-2-2013 by ollncasino because: (no reason given)