tag:blogger.com,1999:blog-5880610.post112952384573552230..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: Equilibration can hurtSteve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5880610.post-81135204801143694522008-09-11T22:17:00.000-04:002008-09-11T22:17:00.000-04:00import tariff equal to wage savings in chinaimport tariff equal to wage savings in chinaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1129647560084265092005-10-18T10:59:00.000-04:002005-10-18T10:59:00.000-04:00Unfortunately for US workers, unions have smaller ...Unfortunately for US workers, unions have smaller lobbying power now.<BR/><BR/>The hypocricy of a big business is that when needed they speak about working power in terms of a commodity, otherwise in terms of a consumer.<BR/><BR/>China and India are underselling their commodity and should be punished by WTO :)<BR/><BR/>I'd like to see the face of Miller when told: "Your job has been outsourced toAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1129588213761477572005-10-17T18:30:00.000-04:002005-10-17T18:30:00.000-04:00"If you want your kids to enjoy the great American..."If you want your kids to enjoy the great American dream, get them a good education. "<BR/><BR/>But not <I>too</I> good an education (i.e., PhD in hard sciences). I'm guessing bachelors in hard science/engineering + MBA or law degree might be best.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1129581664471684422005-10-17T16:41:00.000-04:002005-10-17T16:41:00.000-04:00Note even the $20 per hour compensation presuppose...Note even the $20 per hour compensation presupposes that final assembly of the cars takes place here. Eventually that could go as well, esp. given the auto production capacity being built now in China.<BR/><BR/>Wolfgang: the yuan will eventually float, and you can expect it to behave against the dollar the way the yen did in the 80's after the Plaza accord (increasing in value by a factor of 2 orSteve Hsuhttps://www.blogger.com/profile/02428333897272913660noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1129558571333208572005-10-17T10:16:00.000-04:002005-10-17T10:16:00.000-04:00Steve,one issue is that there is only slow or no e...Steve,<BR/><BR/>one issue is that there is only slow or no equilibration.<BR/>The communist government keeps wages and consumation artificially low ( e.g. by not floating the currency).Wolfganghttps://www.blogger.com/profile/07086991199438418163noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1129556908285482062005-10-17T09:48:00.000-04:002005-10-17T09:48:00.000-04:00Steve,All true.I read somewhere about the 'China p...Steve,<BR/><BR/>All true.<BR/><BR/>I read somewhere about the 'China price' of goods and services---first-world quality with third-world wages. This is what we (especially low-skilled workers) are up against, . <BR/><BR/>Another factor is the social safety net. In Asia(even in prosperous parts like Hong Kong), it is traditional for the children to look after their parents. So the costs of the Anonymousnoreply@blogger.com