What I would like explained to me [View all]
Retailers demand low prices to expand and compete.
Producers want high profits on low prices, so they manufacture overseas.
Lost manufacturing jobs are not being replaced in quantity or quality by the service sector.
Consumers can only sustain current standards of consumption through debt.
As job quality drops for the majority, credit cannot be extended at the levels which currently sustain consumer spending.
Surely developing consumer markets' retailers and producers will not manufacture in the US, as even our relatively rich market will not sustain the practice.
So where are we headed in thirty years? Is there any grand globalization fairy tale to explain this as anything but a short-term grab for wealth? Could even a single major beneficiary of this grab reasonably expect the current balance to be sustained for long after his departure? Surely the developing world, even ten or twenty years richer, will prefer to manufacture cheaply and sell low just as we do - if it costs us too many pains to sustain good jobs here through our consumption, how do we expect poorer consumer markets to sustain them for us now or in the future?
= new reply since forum marked as read
