China successful going for lowest prices
In a recent letter, Robert T. Rock challenges Joe Sawchuk as to what qualifications he has to dare speak of economics when it comes to minimum wage. (Low minimum wage a race to the bottom)
Hell, after all, Mr. Rock informs us that he has studied economics. Well, not at university, but at a university “level” and goes on to display his vast knowledge of the “multiplier effect”. In short, the more money earned, the more money spent and that makes everyone well off. Uh huh, I get it, something like the more money we pay on taxes the better off we all are. Sure!
Rock states, “everyone who buys into the lowest price theory” is, well, basically ill-informed. I suggest that Robert T. Rock would never qualify for a job in a country that has the most successful economy in the whole world, being China. Their success: lowest prices!
No Mr. Rock, it is not because of “child labour”. If you buy into that, you are buying into American mainstream media propaganda. Literally millions upon millions of people have been lifted out of poverty in China since they dumped “communism” and changed to “capitalism”. Or are you not aware of that fact?