How long will it take for Americans to realize they’ve been had by their own corporations? US jobs are not coming back because the factories will not re-open, because those factories are now in communist China. This did not happen in previous recessions, except to a smaller extent where there was a manufacturing scare in the 1980s when Japan was taking manufacturing jobs.“The stated plan was that different parts of the world would be assigned different roles of industry and commerce in a unified global system. The continued preeminence of the United States and the relative independence and self-sufficiency of the United States would have to be changed… in order to create a new structure, you first have to tear down the old, and American industry was one example of that. Each part of the world will have a specialty and thus become inter-dependent, he said. The US will remain a center for agriculture, high tech, communications, and education but heavy industry would be “transported out.” Dr. Richard Day to a meeting in March 1969 that American industry will be sabotaged and shown to be uncompetitive
US corporations began outsourcing and off-shoring jobs to China shortly after they were able to convince the US government to dismantle trade and investment regulations, about 10 years ago.
All the corporations thought this was great because they could employ people in China for 10cents/hour and still sell the stuff for the same price back home in the US. How long could this continue? – for as long as the consumer and US government could continue borrowing. Time is almost up.