China saves US consumers (lots of!) money (1 Viewer)

[Rutledge]

"On his recent trip to the USA, Chinese President Hu Jintao stated that less expensive Chinese exports have saved American consumers $5 billion a month for the last decade." (source: White House).

Hmmmm.

 

[Grognard]

It would be interesting to also figure out the "cost" of these savings for the US economy in terms of jobs, etc. Now I don't think China is responsible for any of this in the first place: IMHO the globalization of the economy is. I realistically don't think we can do anything about this fact except to keep innovating and keep finding new business opportunities that cannot be outsourced (yet). This is where great entrepreneurship combined with a great education system are key for a country to stay relevant in this now global world...

 

[bromhead]

"On his recent trip to the USA, Chinese President Hu Jintao stated that less expensive Chinese exports have saved American consumers $5 billion a month for the last decade." (source: White House).

Hmmmm.

Indeed,everytime I see the latest prices I feel incredibly grateful,,as must the consumers who can still afford to.