SeanBM: I really think that the E.U. and U.S. have to go more in to research and development and quality. Our strength is in our education. A balanced economy needs to have a range of products, services, sectors etc. Relying on "one" major element is a risk to the overall well being of the society as a whole. We can't all be bankers, doctors and lawyers, as there are people who just don't have what it takes or the interest in those fields. There needs to be an option other than McDonalds, Wal-mart and the likes. Manufacturing provides well paying jobs for many people. Relying on China to provide manufactured goods takes those people from the domestic economy out of the picture in the sense that they cannot afford the products and services the Chinese offer. You end up creating unemployment, underemployment and a welfare state when you let your manufacturing sector fail. On the other hand, I don't think you can continue paying them what unions demand. There has to be balance in order to prevent the spread between rich and poor from growing.
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