The results of "begger thy neighbor" currency policies hurt everyone, but I suspect a devaluation contest would hurt China and other unprosperous countries more than they'd hurt the U.S.
We might be forced to cut back our living standards, but in our case that usually means fewer toys and a smaller place to live. For the Indian maid or Chinese factory worker, a job loss or cut in pay can mean going home and saying, "Sorry, kids. No food tonight."
By Calcutta standards, don't forget, the American "homeless guy" on the corner with his "will work for food" sign is doing reasonably well.
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Re:How to bring offshored jobs back to the US?
Posted by: roblimo on March 12, 2004 10:56 PMWe might be forced to cut back our living standards, but in our case that usually means fewer toys and a smaller place to live. For the Indian maid or Chinese factory worker, a job loss or cut in pay can mean going home and saying, "Sorry, kids. No food tonight."
By Calcutta standards, don't forget, the American "homeless guy" on the corner with his "will work for food" sign is doing reasonably well.
- Robin
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