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VTHokie2000

Joined: 01/01/2005 Posts: 33818
Likes: 12458


It may not buy you much in SE Asia or Africa because inflation


tends to be a problem in that part of the world too. Some countries even allow child labor which helps reduce their labor cost. Also, a lot of those countries don't provide benefits which is a common practice in Western industrialized countries. In the US on average benefits cost a company approximately double a person's salary. It just shows how cultures place different "values" on various concepts/things that can have a direct impact on a country's economic policy.

My point is that now we live in a global economy, the US may not be able to rely on past business strategies (i.e. producing more goods within the US) because things have changed. If the US is determined to see an increase in domestic production again, then the incentives will have to be greater than the disadvantages in labor cost. Even going the tariff route will present its own obstacles and challenges.

(In response to this post by RTFC)

Posted: 11/10/2021 at 4:09PM



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