Originally posted by: AcidBath
Originally posted by: Svnla
If you buy one of these paintings in the United States, it would cost about $500.
If it stays that way then this is no big deal. But when a company starts bringing them in by the container load and selling them at Target for $69.95 then we may have a problem. It has been happening with virtually everything China exports.
Anything we can make in the US, China can make cheaper. I work for a US manufacturing company that goes head to head with China. Used to be that our quality was much higher but then the Chinese manufacturers got better at replicating our product. And by cheaper, I mean much cheaper. We pay an average (benefits, etc) of $24 per hour for our labor in the US. In China the average to make what we make is $1.40 an hour. Hard to compete with that. So we are just building a plant in China.
Not that it is China's fault. They are
competing and doing it more or less fairly. It is a rapidly changing world economy that is going to require a fundamental change in the way the US produces it's goods.
Either that or the boom in China will escalate the cost of living though rapid inflation and everything will balance out in the end.