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Politics : PRESIDENT GEORGE W. BUSH
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To: d[-_-]b who wrote (694954)8/2/2005 1:07:44 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
True... (or, *possibly* true. It is not inevitable that Bangladesh will prosper for instance. There are quite a number of externalities that apply).

But, I wasn't commenting upon the ultimate wisdom of Adam Smith's invisible hand maximizing global wealth (a theory with which I am in complete agreement... but often complicated in actual practice because we are a LONG WAY from a global system of free, unimpeded trade).

Rather, I was merely pointing out that this 'all China, all the time' sourcing by Walmart was unlikely to last forever. As China's wealth increases (compounding so rapidly as it is) *eventually* (perhaps on the order of 20 years or so) even they will run out of exceedingly cheap labor (wages are already rising in the coastal regions), and move up the value-added scale to other products and services (not in Walmark's balliwick)....
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