".. Other countries developing their economies does not make us poorer. Nor is it true that as those other economies develop their wages will stay low. No, instead, what will happen is that as development happens then wages will rise. And when somewhere else is as developed as the US is then wages will be the same as they are in the US. Thus things like the rise of China are not to be feared in an economic sense. In fact, they can only make us richer..."
"..Scott Sumner points us to this:
Average wages in China’s manufacturing sector have soared above those in countries such as Brazil and Mexico and are fast catching up with Greece and Portugal after a decade of breakneck growth that has seen Chinese pay packets treble.
....
Average hourly wages in China’s manufacturing sector trebled between 2005 and 2016 to $3.60, according to Euromonitor,.."Sumner notes one more thing:
"...My wife recently mentioned that her mother was now paying 35 yuan/hour (i.e. $5/hour) to her maid, a sum that her mother found completely mindboggling..." https://www.forbes.com/sites/timworstall/2017/03/01/chinese-wages-are-showing-paul-krugman-is-right-once-again/#6c1e87553fea
Sometimes can't help but laugh my butt off.Some people would insist cow piss is chanel #5 even if they know it isnt while the rest of the gang chant Amen