If you had ever read an economics textbook, James, you'd realize that "a
rising tide lifts all boats" is a myth. Bush claimed that returning taxes to
the wealthy in this country would have that effect here - instead,
statistics show that the middle class and lower classes in the US have seen
a substantial decline in wages relative to inflation in the past 5 years,
while the wealth of the upper class here has skyrocketed in that period,
Interestingly, you cite no evidence for your claim that all citizens of
China has benefitted from its economic growth - because such evidence
doesn't exist. China has a rapidly expanding upper class, whose standard of
living is beginning to match its counterparts in the West - but it has a
tiny middle class. In the long term, only countries in which the middle
class is the largest class can be said to have healthy economies. The
majority of people in China remain desperately poor. Many factories are run
as sweat shops with wages held down because government officials forbid
unionization attempts. How many thousands of Chinese die every year in coal
mining accidents? True unemployment is estimated by many China experts at
15% or higher (in other words, equal to the entire workforce of the United
States). Rural people leave their farm villages to try to find work in the
big cities, but usually fail and live in shantytowns on the outskirts,
surviving by begging and picking through garbage.
The only way this situation would ever change (and I'm not optimistic) would
be if the developed world insisted on fair labor standards and wages before
it would do business with China. But most of us prefer to hide our heads in
the sand, because we're able to buy some sort of advertised junk for $10
cheaper if we don't rock the boat too much.
"James" wrote in message You are mistaken. All of
China is benefiting significantly from their
growing economy, including factory workers. You have to look at the big
picture rather than some poor schmuck who got a bad deal of the cards. I
suggest an economics book.