What would you do about manufacturing jobs? Would you implement protectionist policies even if the result was a 10 percent increase in the cost of most products? Or, would you allow a significant number of manufacturing jobs to be lost in order to ensure
Chinese goods are inexpensive because the cost of labor in China is cheap. As a result, factories in China manufacture goods that cost less than if they were produced in Boston or Paris. And Western firms move their production to China or other countries because it is cheaper to manufacture there. As a consequence, millions of industrial jobs have been lost in the United States and Europe.
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