Globalization is good - really good!

[ishtat]

The Brookings Institution has calculated in recent research that by 2030 the Chinese middle income class will grow from 12% of population to 73% of population, a growth of 850 million people.

In the same period the Growth in middle income Europe will be +16 million people.

And the USA will continue to concentrate wealth at the top end, with the Middle income class decreasing by -16 million people.

Given the fact that by far the greatest part of market expansion will be in Asia, what advantage would there be in cutting ones country off from that market by setting up protective "America or Europe first" tarriffs/regulations, because obviously, any protection will lead to retaliation

And then there's India as well.

 

[magicalmoments]

The Brookings Institution has calculated in recent research that by 2030 the Chinese middle income class will grow from 12% of population to 73% of population, a growth of 850 million people.

In the same period the Growth in middle income Europe will be +16 million people.

And the USA will continue to concentrate wealth at the top end, with the Middle income class decreasing by -16 million people.

Given the fact that by far the greatest part of market expansion will be in Asia, what advantage would there be in cutting ones country off from that market by setting up protective "America or Europe first" tarriffs/regulations, because obviously, any protection will lead to retaliation

And then there's India as well.

It'll be alright. By 2030 America will be great again. Primarily through massive injections of Asian capital as China and India ship their industries off to countries that can provide cheap labour... And the USA will be there at about that time.

 

[ishtat]

It'll be alright. By 2030 America will be great again. Primarily through massive injections of Asian capital as China and India ship their industries off to countries that can provide cheap labour... And the USA will be there at about that time.

No that is wrong. America will tend to split into a fairly large well paid very highly skilled class selling services and skills more than goods. At the same time the less well educated and less well paid will become an even larger proportion of society. The cheap labour market is on the wane already with machines and computers taking that role.

America's and Europes problems , I believe, will be social and political unrest from the economically and politically disenfranchised.

At current trends, Brookings anticipates that the China economy alone will spend 3.5 times that of the USA by 2050.

 

[magicalmoments]

No that is wrong. America will tend to split into a fairly large well paid very highly skilled class selling services and skills more than goods. At the same time the less well educated and less well paid will become an even larger proportion of society. The cheap labour market is on the wane already with machines and computers taking that role.

America's and Europes problems , I believe, will be social and political unrest from the economically and politically disenfranchised.

At current trends, Brookings anticipates that the China economy alone will spend 3.5 times that of the USA by 2050.

I agree, there will be an affluent elite, although I believe it will be only 20% or so of society. The remaining 80% will be the economically and politically disenfranchised.

Where we differ is in how that group will be managed. I say they will be factory fodder for Asian industry, computers and robots will have an impact but I believe the wheel will turn full circle and just as western industry has used cheap Asian labour so Asian industry will use cheap American labour, it will be cheaper than technology.

 

[Carnal_Flower]

I was just thinking the same thing.

Especially now that Rs have convinced the masses that unions are a communist plot.

Where we differ is in how that group will be managed. I say they will be factory fodder for Asian industry, computers and robots will have an impact but I believe the wheel will turn full circle and just as western industry has used cheap Asian labour so Asian industry will use cheap American labour, it will be cheaper than technology.