This is a very interesting article that inspects how many Americans think trade is not beneficial to the domestic economy.
Chinese middle class is 'booming,' it says, where growth in America has stagnated. The article also incorporates the idea of the rise Trump supporters with them believing in his ideas of "bringing back jobs from Mexico and China."
Here is the article: http://money.cnn.com/2016/04/24/news/economy/china-us-trade/index.html?iid=Lead
As for the 70% increase in middle class income, I think it's more like a recovery rather than a booming in terms of standard of living, considering those traumatizing political events happened from 1960 to 1988, even WWII.
ReplyDeleteOn another hand, if US stop trading, and try to produce everything domestically, the increased labor/ material cost will definitely cause a massive increase in the price level, and some smaller corporation may not even be able to survive.
This is frustrating to see knowing how this country was built off the hard working middle class American mindset. Not only is the motivation to earn everything you get fading away over time, our true American pride has been altered as well. Americans need to realize where our world is heading economically. As time goes on, the more and more this world becomes internationally intertwined. We need to continue to work to heavily improve international trade and exports not only to improve our domestic economy, but other countries economies as well.
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