Re: Is China's rise our downfall?
Yes, China's rise is bad for the USA as is the WTO scheme. Cheap labor to make the rich richer.
China's goods are poor quality, dangerous in many instances and produced by virtual slave labor.
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Is China's rise our downfall?
China's star is on the rise. Is ours waning?
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Bhagwati on Chinese Manufacturing
Bhagwati essentially makes the argument that China's greatest strength -- i.e., manufacturing -- can easily become its greatest weakness because the Chinese system of government has no checks or safety regulations. I think this can't be emphasized enough: China is a player as long it relies on manufacturing products for foreign markets. But, if a "made in China" label gradually becomes psychologically associated with the litte posion bottle cartoon, China's economic future can't look too rosy. That said, what, other than enforcing manufacturing guidelines should China do to secure it's economic legacy? Diversify? If so, where?
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Re: Is China's rise our downfall?
There is something that Bhagwati mentions in the first thirty seconds: Capitalism vs. Communism. Usually we here at bigthink.com are adverse to polemics, but I think this is a question that we must start to explore.
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