But re cheap labor excuse, its really cheap Chinese Yuan result. $1 buys about 7 Yuan. So just mathematically and artificially, prices appear cheap. The Chinese labor costs are actually very generous. Our consumer dollars created at least 100,ooo new middle class just over there. The Dollar Yuan peg is still in place. The only way we can get even is to make $7 equal to 1 Yuan.
Then the multi national manufacturers harbored in Chinese, will move back here, use the artificially cheap USA labor, and make things here for export to well off Chinese consumers. Then they tell the Chinese people…”We are having things made in USA because of “cheap” labor. They can import very mathematically cheap from here and open retail stores and shut down factories like they did here.
After a while 40 some years, they will be flooded with retail stores and malls, as their middle class implodes over time without factories. They’ll be doing over head type jobs, of sales and service of our US exports. 🙂 Just the opposite of now.
But that’s if everything goes well. As long as paper money keeps working all gov’ts can hand it out to people like candy. And live free in foreclosed homes for 6-10 years. Like here. But currencies are skating on this ice.