- 21 Feb 2017 16:07
#14778626
The difference is the markets and peoples living standards in each country. Because China are an export king, naturally they want to promote globalisation. And no sensible country would allow China free reign in their markets because of their attitude to outside interference in their economy and the fact they could out compete homemade products without barriers in their country too. The US on the otherhand are a consumer based market where people think they have a low standard of living, but in reality to the rest of the world, this is far from true and rely on globalsation for some of their biggest brand names. The China poor are prepared to accept a lower standard of living than their US counterparts because they have never known anything different. Any free money they have tends to go into investments or retirement, not luxuries.
So what should the US do? Well they have some massive global brands. So in my eyes protectionism is suicidal. So they either accept this notion and also accept a lower standard of living and ultimately make these big brands move shores or stop wasting their money on illegal wars, missles, walls and space rockets and put it into welfare and tax credits and keep globalisation. I know which one I'd pick if I was American. And it isn't Trumps plan A of trade embagos and increased tariffs of goods from ally nations.
quetzalcoatl wrote:This is absurdly easy to compensate for. China is famous for this. They simply insist that foreign investors partner with local enterprises - with the implied threat that capital repatriation can be interrupted at their whim. Why is China allowed to openly nationalistic and protectionist, but not their trading partners?.
The difference is the markets and peoples living standards in each country. Because China are an export king, naturally they want to promote globalisation. And no sensible country would allow China free reign in their markets because of their attitude to outside interference in their economy and the fact they could out compete homemade products without barriers in their country too. The US on the otherhand are a consumer based market where people think they have a low standard of living, but in reality to the rest of the world, this is far from true and rely on globalsation for some of their biggest brand names. The China poor are prepared to accept a lower standard of living than their US counterparts because they have never known anything different. Any free money they have tends to go into investments or retirement, not luxuries.
So what should the US do? Well they have some massive global brands. So in my eyes protectionism is suicidal. So they either accept this notion and also accept a lower standard of living and ultimately make these big brands move shores or stop wasting their money on illegal wars, missles, walls and space rockets and put it into welfare and tax credits and keep globalisation. I know which one I'd pick if I was American. And it isn't Trumps plan A of trade embagos and increased tariffs of goods from ally nations.