[–] webster_warrior ago
Apparently, wind is going out of the sails.
[–] Hoppinmad 0 points 1 point 1 point (+1|-0) ago
Inoticed on Craigslist people are selling giant pallets of tools for pennies on the dollar. I am assuming this is part of the China overproducing phenomena and they just need to get rid of them to keep the books looking legit. They can keep going and take a loss because of borrowing on fractional reserve.
[–] CrustyBeaver52 0 points 1 point 1 point (+1|-0) ago
I remember back around '90 to '92, Canada used to run a branch plant economy - American manufacturing companies operating in Canada to avoid the tariffs. Canada went free trade with USA, and 9 out of 10 manufacturers pack their bags and left the country. The city I lived in lost 40,000 unionized jobs in two years, which was almost 1/3rd of the total workforce. Those jobs never came back.
Free trade was a very bad deal for Canada, and it is still a bad deal today. The cities have never recovered. From there, things have only gone from bad to worse.
[–] redtoe_skipper 0 points 1 point 1 point (+1|-0) ago
And became good places to dump en masse immigrants from a certain background.
[–] dundundunnnnn 0 points 1 point 1 point (+1|-0) ago
Same owner who shipped shit to China is also wondering why the government would allow him to do so?
[–] goofy300 0 points 1 point 1 point (+1|-0) ago
There is not enough information here to make a case that the US policy with China trade is the problem or whether the Chinese have just copied that companies machines and are producing them themselves. I would guess the latter but I can't say with the information provided.
[–] dudleydoright [S] 0 points 1 point 1 point (+1|-0) ago
They have been buying our machines at scrap prices then shipping to China thats a good deal
[–] TurquoiseLover 1 point -1 points 0 points (+0|-1) ago (edited ago)
I didn't know they were giving them all the equipment what a total rip off of America.
Tell your "friend" there are plenty of uber jobs and he deserves one.