"Made in China"

• Mentosftw wrote on 2012-05-25 04:36
  I believe it should but too bad the world doesn't work on ideals like that.
• Sumpfkraut wrote on 2012-05-25 15:48
  Chinese wages are dramatically rising, quality of work is increasing, and all this was only possible because there were people who bought Chinese products. Without a customer there is no market, without a market there is no competition, without a competition, there is little incentive for most to get better. Economies do not grow without money.
  
  So yes, as far as that is concerned you should buy Chinese products, precisely because Chinese wages are low. Though of course you shouldn't forget your national economy either, you don't want that to decline.
  
  Though currently China's domestic demand is growing, so trade isn't that essential for her economical growth anymore.
  
  
  In the long run China and all the other "cheap producers" will see wages level with at least minor industrial nations, but probably with business growing more and more global and competition being more and more international, all national average wages will probably move around an international median value, bouncing a bit up and down as the various national economies due to natural economical dynamics change eternally. This is, unless globalisation comes to an unexplainable halt, as certain as the sea eating at the shape of rocks.
• Chiyuri wrote on 2012-05-25 17:19
  I don't understand money much at all or economy either.
  
  I'm reading a book right now about some guy was was transfered to another job in quebec. the book is ment to represent the year 1950. I find it odd the guy could buy a beer for 0.20$ and only give the waiter 0.05$ of tip.
  
  So I am deeply wondering.. why is it that back then, a beer for only 0.20$ was normal.. making 20$ a week was also normal.
• Joker wrote on 2012-05-25 17:37

  Quote from Chiyuri;872751:

  I don't understand money much at all or economy either.
  
  I'm reading a book right now about some guy was was transfered to another job in quebec. the book is ment to represent the year 1950. I find it odd the guy could buy a beer for 0.20$ and only give the waiter 0.05$ of tip.
  
  So I am deeply wondering.. why is it that back then, a beer for only 0.20$ was normal.. making 20$ a week was also normal.

  
  
  false sense of inflation... its how the world works.. thats why allot of futurists and people have stuff like well back to the future for an example it may be a movie but the ideas behind it are quite realistic in the sense of a soda being 50$ in the future...
• Sumpfkraut wrote on 2012-05-25 18:00
  Simple price increases and inflation.
  
  
  It's very small per year, but in 50 years the difference is significant. It wasn't that strong when money was based on metals because digging that up takes time, particularly back when they didn't have the machinery that we do have today (except when the coins were stretched with cheaper metals or a huge deposit of the respective metal was found, considerr colonial Spain's gold and silver - that would generally drive inflation), but with paper money it's a lot easier, and allegedly many countries actually drive inflation purposefully to -combined with other measurements- decrease their debt relative to the national GDP. The US allegedly did that too after WWII, which makes sense given their then sky-high debts. However bear in mind that I've only read about those practices recently and I have no way to validify the actual usage and usefulness of them.
  There's a lot more to the issue of inflation though, such as currency stability issues which can be important in trade, or how it affects the economy when it outruns GDP growth, etc. I can't tell you much about it, I'm still an economics greenhorn.
  

  Quote from Joker;872753:

  false sense of inflation

  
  What?
• BobYoMeowMeow wrote on 2012-05-25 20:23
  as stated before,
  the jobs given to Chinese by foreign corporations are better than other jobs with similar requirements
  
  the Chinese government supports this by depreciating their money
• Claudia wrote on 2012-05-25 20:35
  Yeah, uh, you almost make it sound like these people are miserable.
  
  Miserable in our eyes, yes, but to most people, working in a sweat shop is the best damn job ever. Some of them don't know any better. Some of them have no choice, but everything and everyone has a purpose.
  
  I don't know much about economics, but the United States's biggest source of income and spending comes from capital goods, which is shit we could easily live without. The more manufacturing China does (and they manufacture a LOT of capital goods), the more money is coming into their economy, which is obviously a good thing.
• Spartaaaaa wrote on 2012-05-25 23:14
  I'll bet there's a good 9.8% of our work force who would love to have a job at a "sweat shop" but can't get one because of minimum wage laws. The problem with artificially inflating wages is that supply and demand won't intersect anymore, which means that there will be people who are willing to work for a lower wage but are prohibited from doing so.
  
  The problem of "exploitation" is at the same time, solved by supply and demand. As more firms move in to "exploit" the cheap labor, competition between employers will push the wages up. As far as I know, China's standard of living is currently on the rise as foreign corporations move in.
  
  Finally, if you know anyone who lived in China under Mao, ask them where they would rather work; in a "sweat shop", or in a Communist labor camp.
• Retard wrote on 2012-06-04 02:06
  I think its fine that they are working in sweatshops. TBH They probably don't know any better life. Besides, if you think about it, the American Population is moderate with high amounts of big and small businesses, yet we still think we have a huge unemployment problem. The Chinese population is HUGE and there really isn't that many big name businesses stemming from China like in America. Without American-made sweat shops in China, all of those people that work in sweat-shops would probably living on the streets... And if you have ever been to china, there is already a lot of unemployed, homeless people.
• Sumpfkraut wrote on 2012-06-04 19:54

  Quote from Purrz24;879664:

  yet we still think we have a huge unemployment problem.

  
  Uhm, that's because you do. Even if it might be temporal.