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[–] brother_tempus 1 point 6 points (+7|-1) ago 

Asia is crushing Europe and U.S. in job creation and wealth creation.

No minimum wage or a very very low one and a lot less business killing regulations making it very expensive to run a business

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[–] TauCeti 0 points 9 points (+9|-0) ago  (edited ago)

In other words, the end game of globalization, where North Americans and Europeans works for the same pittance that they do in Asian countries. Yeah, there are some problems with that:

  1. You can hardly live on third world wages in a third world country. You can't live on third world wages in a first world country, so things would have to collapse to third world status. Good luck surviving the instability.
  2. The demand destruction as everyone inevitably sinks to $0.30/hr would flatline the world economy. Useless to have slave wage employees if there are no buyers.
  3. No motivation to find environmentally friendly ways to do business means wholesale physical destruction. Do you really, for example, want to go back to burning coal and belching fumes, unregulated, for power?

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[–] brother_tempus ago 

In other words, the end game of globalization, where North Americans and Europeans works for the same pittance that they do in Asian countries.

Or not work at all

You can hardly live on third world wages in a third world country.

That because the Asian government devalue the crap out of their currencies

The demand destruction as everyone inevitably sinks to $0.30/hr would sink the world economy.

No as I have stated the currency devaluation will eventually catch up with the government and its people and then you will see a Venezuela or an Argentina circa 2002

No motivation to find environmentally friendly ways to do business

If there is legitimate demand than there wil always be supply

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[–] TerriChris [S] 0 points 4 points (+4|-0) ago  (edited ago)

Agree. Very difficult for Euro & U.S. small businesses to pass the cost of higher wages, complicated taxes strategies, Obamacare, and regulation administration through higher prices to consumers. Today large international companies with close relationships in Asia, teams of lobbyists, and tax lawyers have advantages

I suspect Asia is like the wild west for international businesses - few regulations, lower wages, corruptible politicians. The current leadership Euro & U.S. have been focusing on the wrong issues for too long now. You'e fired!

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[–] ialreadyhaveaccount ago 

Asia is a bit wild, sort of. The US FTC anti-bribery laws have put US companies at a disadvantage compared to those not under such tight controls. (Russians, and smaller countries not in the EU). Pay to play...or go to the back of the line and wait your turn for less lucrative deals.

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[–] Capt_Rye 2 points -1 points (+1|-2) ago 

Accept that's a bad thing for the worker. They live in a company owned tenement that they pay the company to rent. Work shit hours and produce shit products to that the multimillionaire can make a 50% profit on his item. What the Asian (chinese, and south east asia) job markets are is what coal mining use to be I'm the US. Families stuck in the industry forever indebted to the company.

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[–] brother_tempus ago 

Accept that's a bad thing for the worker.

No one forced them to take the job ... besides being unemployed is even worst