Gene wrote: "Western observers prescribe more consumption by the Chinese workers. That would require higher pay -- a larger share of GDP going to workers and less to profits. But the rhetorical question that occurs is 'why don't the same observers prescribe the same remedy for the USA'? And, why don't journalists ask that question of the pundits addressing China?"
The hypocrisy is apparent - but the advised remedy is often a bit different. China, some lordly kibitzers say, should move to a "service economy." That apparently means low investment, stagnant and declining wages, and lots of income inequality. China already has the last item. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
