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tatupu70 says

indigenous says

The main dynamic behind this is comparative advantage which is the foundation of

the modern economy

What's the comparative advantage that the Chinese have in manufacturing? Do you consider the fact that they have lots of people willing to work for nothing a comparative advantage?

Their comparative advantage is lots of low cost labor.

You do realize the per capita income in China has gone from $500 per year to $7000 per year in the last 10 years?

Look we have been over these points many times.

I don't have the time to do this.

I will give you one last comment each

indigenous says

You do realize the per capita income in China has gone from $500 per year to
$7000 per year in the last 10 years?

I sure do.

The interesting scenario is what would happen under following conditions:

1) Those who have disposable income would never finance anything except the house - cars/clothes/vacations/other discretionary items would be paid in cash/atm/credit card paid off before interest comes due

2) People would hunker down and constrict spending on discretionary items and save as much money as possible for a few years.

Would these behaviors teach the elites not to take things for granted?