Linked by David Adams on Wed 30th Nov 2011 20:23 UTC
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Member since:
2010-07-07
Simple economics, you need import tariffs to dissuade importation that which they should be making in their own country.
It's the lack of import tariffs that is killing the US as it's killing the US consumer base by exporting labor over seas in the name of artificially low prices in the short term.
High import tariffs lead to more companies hiring more workers to make consumer products in state, thus having more people in said state with the money to buy said goods thus building your consumer base and raising your nation's overall standard of living.
Exporting your labor only kills off your consumer base because you can't have an entire economy based on the financial or service industries. To do so is to make your economy a house of cards, a nudge in any direction causes the whole thing to collapse in on itself.