Comment by pixl97

>meaning it cuts a big chunk of the potential buyers of the cheap crap.

No. Really not much at all.

The US cut 330 million or so people out of a market of billions setting it up so the rest of the world starts getting a competitive advantage over the US.

>it also means that reputable brands now start to cut corners in order to compete with cheap no name crap.

LOLOLOL. You do not think like a capitalist. They didn't go "oh no I have to cut corners". They saw they could cut corners on costs decades ago. China has been building your name brand products for as long half the people on HN have been alive. If you look at Tiktok now, they are out right showing the factories building products you are paying hundreds/thousands for in the US for 20-50 dollars.

The US screwed itself with huge consolidations and rent seeking behaviors. We are paying huge amounts for products and not getting the value we deserve.