Flooding foreign economies with cheap subventioned goods so the domestic can’t compete and go out of business and thus increasing dependency in you.
Yes, I’d say this is bad.
Yeah, kind of, but under a capitalist system where workers can’t reap the benefits of automation and much labor is still performed in the imperial periphery it is negative.
The goods produced in China are cheap because Western economies made a bet that they’d come out ahead by moving their capital out of their own economies and into China. China won the bet instead of them and now has more productive capacity than the West. Why is it China’s fault that the West had poor foresight and deindustrialized itself in exchange for short term profits? Should Chinese workers have remained poor forever instead of benefiting from Western investments?
This is just cope, though. China has better industrial capacity, and can produce high quality goods for lower prices because of this. It isn’t because of evil, it’s because China as a socialist economy is surpassing capitalist economies.
Flooding foreign economies with cheap subventioned goods so the domestic can’t compete and go out of business and thus increasing dependency in you.
Yes, I’d say this is bad.
Bad for who
It is a pretty bad deal for Western workers that our economies have deindustrialized. But that’s not China’s fault, that’s our ruling classes’ fault.
Deindustrialization itself isn’t really bad. It’s a neutral thing.
Yeah, kind of, but under a capitalist system where workers can’t reap the benefits of automation and much labor is still performed in the imperial periphery it is negative.
The goods produced in China are cheap because Western economies made a bet that they’d come out ahead by moving their capital out of their own economies and into China. China won the bet instead of them and now has more productive capacity than the West. Why is it China’s fault that the West had poor foresight and deindustrialized itself in exchange for short term profits? Should Chinese workers have remained poor forever instead of benefiting from Western investments?
This is just cope, though. China has better industrial capacity, and can produce high quality goods for lower prices because of this. It isn’t because of evil, it’s because China as a socialist economy is surpassing capitalist economies.