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We must put things in perspective. Imports from China account for about 2 percent of U.S. gdp. Not insignificant but not enough to spark a runaway wave of unstoppable inflation.
From: Salon <salon-bounces@listserve.com>
On Behalf Of Chas Freeman via Salon People don't realise the difference between Chinese manufacturing costs and those in the West. Here an entrepreneur is quoted >$50 per box for his sunglasses,
vs. $2 from China. Imagine the inflation if we just cut off from China one day? I'm in favour of re-shoring and an... 1/3 That’s the reality. It is not great that we are where we are. But we are where we are. We can’t just wish it away. There’s no magic potion to solve this. And
the geopolitics and military people who tell you a war with the Chinese won’t collapse Western economies are conning you. |