Clothes, electronics, cars, trinkets at the dollar store, pet food, pet treats, books, bookmarks, pens, pencils, pots and pans, dishtowels, vitamins, throw rugs, Disney products, toys, stuffed animals!! The list goes on and on and on and on!!!! The USA could be making these products. Why do we as a nation make other countries rich while our country is failing economically???
Athene
Favorite Answer
America decided to give China "most favoured nation" status in the 1990s. That meant giving China better deals for import export trades than any other (in term of loest import dues etc).
Info here:
http://en.wikipedia.org/wiki/Most_favoured_nation
The basic idea was that America would sell weapons and sensitive military technology to China, and in return buy all the cheap junk China produces, undercutting US producers.
President Bush had personal economic interests in a lot of arms producers, I wonder if that had anything to do with it? Or am I too cynical???
The US consumers went for the cheap stuff from China because.... well, because it was cheap. Now China is full of factories producing goods at an amazing rate, everywhere in the world buys from them and, oh what as surprise, every country in the world is in the deepest economic crisis with the worst unemployment anyone can remeber, except China.
So now the Chinese have the strongest and fastest growing economy in the world and all the military technology too. They will be the world's next super power once Obama has finished running America into the grund completely and completed the process of alienating all America's old allies, which he thinks are no longer important. I reckon it is only going to take about 15 years for China to overtake America on the world stage, maybe even less.
Ely D
Simple answer- because China subsidizes everything as a communist country.
Workers housing: Subsidized (average $8 per month)
Workers food: Subsidized
Workers education- K through college: Subsidized
Workers health care: Free
Workers transportation: Subsidized (300kmh high speed rail and busses with wifi are EVERYWHERE)
This is how Chinese citizens can work for less than 1/3 of what American workers need to be paid (just to barely survive) and still show up for work - housed, fed, transported, educated and healthy.
How much would you need hourly if your rent was only $8 a month?
But if you tried that in the US you would be called 'Socialist'. Look how hard they are fighting against simple health care?
And then there are company perks.
Company wants to start a new factory? Easy low cost Chinese government loans.
New technology idea? China subsidizes the development.
For example: China has spent over 100 times the amount of money in renewable energy technology development than the US - and are now running 100's of factories developing renewable energy goods.
Meanwhile our petroleum, natural gas and coal interests are still fighting like hell to keep renewable energy in a deep dark pit in the US.
So the US will continue this fake 'patriotic capitalism' bit while the Chinese continue to kick us to the curb.
Bob
we don't make these products because china makes them for a lot less. we would have to pay the people working way below the minimum wage which isn't cool here, but normal in China. Now, though, Thailand is charging less to make more, so it might end up like the new China. Basically, we can't afford to make things as cheap as China can because the people who would make those things wouldn't be payed enough.
Anonymous
The Chinese now hold so much foreign currency, including US dollars, that the nations of the world have to listen to what they say. Right now they are close to having everybody over a barrel, because they have not borrowed money like other nations.
The situation has to level out in the long term because China is poor in natural resources, but if you charge them more for raw materials the cost of the goods will rise ...
Anonymous
Because Chinese workers have no union. They don't demand payrise and benefits all the time. They don't ask for fat pensions like those CEOs in the western countries. Chinese workers focus on doing great job, not demanding comfort and extreme safety like leather chairs in the factory floors.
More, they don't strike or sue their employers for minor injuries like USA, where "no win no fee" lawyers are obsessive at attacking companies.