|When there is no economic production growth should stop. The economic production of the developed countries lowered when the production started being done by Asians: Japan Taiwan South Koreans plus the rest of S. East Asia riding their coat tails.|
How comes economic production moved to Asia and the west did not get poorer? It got richer!
Where the money to keep westerners standard of living have been coming from? The common fallacy is that the service economy -the so-called post industrial economy- took over from industry.
Ok. I understood that. The value of what is produced by high technology would have compensated for the value transferred and being produced in Asian countries.
But what became clear was that, the western economies were hollowed up and the vacuum was filled in - not by high technology companies employing million- but by pseudo economy: finance. (see Britain example below.)
China decade should have never taken place if the western countries, plus Japan, have got poorer as a result of their population not producing. That because their salaries would have gone down to a point where their workforces would have been competing with the Asia's. At this point it would become uneconomical to dismantle another factory in the US, Canada and Germany to ship it to China.
Give you a real example: England lost most of its factories and did not get poorer. It got a finance place. That kept the standards of living of the British population.
Today we have a de-industrialized countries that got richer and I am the only one telling is an aberration. Why? Because don't live in those countries and I can see the reality.
How long this charade will keep going?