|
A couple of points to address those fears:
First, as China's economy grows it creates its own middle class that causes a demand for those very same goods. A lot of Chinese production will be eaten up by domestic consumption. That middle class will also demand US goods like software, music, movies and other entertainment. Similar things happened in Taiwan, Japan and Korea.
Secondly, as the Japanese and Koreans and Germans learned, it is more efficient to build cars in the USA for consumption in the US than it is to build them overseas and ship them here.
A global economy creates competition, but it also creates new markets. Efficient, well-run companies will continue to prosper.
|