Comment by SXX
15 hours ago
To build things you also need a lot of people with education, know how and experience. You cant just bring low-wage workforce and expect to compete with China.
Let alone that to provide same quality of living to average chinese worker as they have in China their salary in US will have to grow 5-6 times.
> Let alone that to provide same quality of living to average chinese worker as they have in China their salary in US will have to grow 5-6 times.
That's Baumol's Cost Disease, a symptom of not allowing massive amounts of workers in. The solution is to let them in, something like how UAE or Hong Kong does it but even more.
Most people don't want to do that. That's a choice they made, but they must live with the consequences and stop complaining.
> To build things you also need a lot of people with education, know how and experience.
Let those people in too as guest workers. There's millions of people that know how to build housing, do surgery, and so on, but they're not allowed to do it.