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?
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?