But cutting the corporate tax rate and doing away with overregulation will create a counterbalance to their lower labor costs. China’s labor costs have been escalating and there are certain industries that are on the cusp of having jobs exported back to the US provided they we can go a little further in accommodating industry so they can manufacture here competitively.
“But cutting the corporate tax rate and doing away with overregulation will create a counterbalance to their lower labor costs.”
High transportation costs were supposed to do the same thing, but the Asians found a way around it: rather than sending everything to a country where many can’t afford them anymore, they can now sell them directly to their own growing middle classes that have replaced ours.