In fact, American workers compete quite well with low-wage countries because Americans are far more productive. Our two largest trade deficits are with China and Japan. Chinese wages are much lower than American wages, while Japanese wages are higher than American wages. So which way does it work? Actually, it doesn’t work either way. Extremely low wages reflect primitive production methods. American workers earn so much more than workers in, say, Malaysia because they are more skilled and have better machines and tools to work with. With these tools, each American worker produces far more each day than his Malaysian counterpart.
A: Browne would veto it, not because he doesn’t believe China should be in the WTO, but because he believes there is no need for a WTO. Browne believes in free and open trade with all countries, including China.
|Other candidates on China:||Harry Browne on other issues:|
George W. Bush
War & Peace