In a truly dynamic economy, newfound efficiencies and innovation effectively reduce the costs of production, which should also reduce the cost of goods and services available in the marketplace. Ergo~ In a healthy economy, prices should naturally decrease.
Information is freely available to American consumers. It is not difficult to determine the origin of durable goods prior to their purchase.
Excellent question.
This has not been the case, we have unemployment, underemployment, stagnant wages along with rising prices. The money "saved" in
lowering the cost of manufacturing has gone into the pockets of corporations and The Chinese government, miles upon miles of empty cities while the workers live in dorms.
The washing machine episode happened early on in this "free trade" economy, I was not on my game, of course now it hardly matters, most things are made in China.
Soon after Chinese goods began to appear it was recognized that they were of inferior quality, disposable and at times dangerous.
In the work that I did their cutting tools, reamers, drill bits etc. were a joke, a sad joke. Their "precision" measuring instruments were horrible.
When Japan had started to produce the same things in the late 70's and early 80's some machinists grumbled about foreign goods, but
little could be said about inferior quality.
It seems bizarre and prejudicial that some have a problem with an American worker earning more than a Chinese worker just because he was "lucky" about where he was born, yet little is said if anything about a man being in a position to run the country or a corporation by virtue of his last name.
Was he not just lucky? Should he live better than a Chinese worker? If we take all of the worlds wealth and distribute it equally we will find a portion of the people will sit around and piss away the money until they are broke. Some will capitalize on them, so is the nature of man.
A wage should indeed be relative to where a person lives, why do we not reverse this and ask why the worker in China does not make more? Why go with lowering the American's wage to where the foreign worker is at?