It’s important to note now,
because business lobbyists and conservatives generally have launched a campaign to tell us …China and other low-wage countries are going to eat our lunch unless we tighten our belts and accept less (except, of course, for rich businessmen, who must have more “incentives” to “keep jobs here.”)
As serious as America’s problems are, they are far less severe than those anywhere else.
And we have more weapons with which to fight those problems than anyone else does.
When rich businessmen want to talk down America’s prospects the best “ooga booga booga” they have is China. China has all our debt. China has low wages. China has us by the balls.