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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (16880)	11/26/2004 4:19:28 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 116555

I am sure China will be glad to lose that business to the sweatshop in Myanmar i would think China would already be glad to lose some existing business as there is much which is unprofitable, and results in poor wages. the point of job exports is not just to lower the wages, but to deprive workers of benefits and also rely on loose environmental regulations. thus China's worsening pollution is a sign of "externalities" for which foreign capital does not have to pay. the pollution remains even as the widgets are exported. as soon as the Chinese demand more in wages and/or regulations, the capital will leave and exploit some other people who are even poorer.