Don't forget legal costs & benefits costs, aside from the actual wages. The defense/military products are also highly marked up for nice profit margins. Chinese goods are sold at wholesale prices to the US brands, so their "final cost" further diminished. Ahh, the wonders of statistics. It really is a science. I would love to see the criteria behind the amazing proof makloda posts.
Keen mentions two major flaws in the current Fed strategy.... Did not properly account for credit usage.... And in their current remedy...assumes "return to the mean".... However at this level of the "ponzi valuation credit scheme".....is a level whereby $7 Trillion of $14 Trillion has been removed from demand availability.....ie mostly from "securitization" sources.... This is a bank credit issue not a Fed issue etc... ............................................................................. The main point....US living beyond its means via "securitized products".....but the value of these tools getting baked into prices ....and being transferred over to China for the trinkets....is the issue.... ................................................................................. Want to stop China surplus ? Close all the US retail boxes such as WMT..... Shut down "trinket demand".... That....would stop it.... ................................................................................ China's currency ? China is NOT going to increase the value of the Yuan meaningfully.....This will be a slow transformational grind....
U.S. Exports to all countries from 2004 to 2008 http://www.census.gov/foreign-trade/statistics/product/enduse/exports/index.html It will probably get updated soon I guess.
Good point. Measuring number of units of output makes no sense when the Chinese quality is so horrible. Unpeg the Yuan and watch manufacturing come back to the USA in time.