good - let’s hope so. Wasn’t too happy about China taking over...
China never did. The problem with prosperity in emerging countries is that it permanently erodes your number one competitive advantage - cheap labor.
It seems that the people making washers and driers one day aspire to owning one.
We’ve already seen that in Japan, the Little Tigers, and in Mexico.
When’s the last time you heard a story about the vaunted ‘Maquiladora’?
One of my customers told me just today about the fact that all of their major European competitors are opening plants in the US next year.