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Originally Posted by NewNick
A battle the west will win if it can manufacture goods for the cost / quality that the Chinese manage effortlessly.
When do you predict that will occur Paul ?
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I predict the worker- Class of the UK will be getting a pay rise, they will be able to spend more and people will have to cut back on the quantity they buy. There will be lower debt, higher tax revenues and overall we will be better off.
The exodus of jobs started in the early 70s and pretty well exclusive to the clothing manufacturing industry. But everyone had a job, working classes were able to afford a home apart from the miners wanting to be subsidised by the taxpayers' everything was fine.
Fast forward to today and what do you buy that was "Made in England"? What prospects do young people have? What prospects do people who want a home face? How much debt do we have?
China and a few others will take whatever production it can and then sell the goods back to us. Until enough of their own and other cheap labour countries have enough people to sustain their output. While the West slowly sinks.
Imagine having millions more people who could afford to buy what you're selling. Those Just About Managing aren't exclusive to the UK.
https://ourworldindata.org/income-inequality
https://voxeu.org/article/brief-hist...lass-economics
Our 99 percent | Branimir Jovanovic
There's loads more proof of the devastation that has occurred over the last 50 years that the Third World has been used by the 1% to make themselves richer and the rest poorer.