Do you believe that the Chinese and Japanese did not spend trillions of public money to subsidize creating jobs in the public sector. To keep the Yen's value low compared to the dollar and to create nationwide programs to develop the automotive industry, the semiconductor industry and subsequently the electronics industry.I might be remembering incorrectly, but didn’t this involve monstrous amounts of subsidies? It also allowed a lot of Congress critters to make a tidy profit on the stock uptick that came after the announcement. Clearly, it worked out well for a lot of people.
China has subsidized their steel industry for years and to maintain the Yuan pegged to the dollar.
It seems to me that it would be important to understand some of the basics of international business to appreciate how US economic policy has led to hallowing out of entire segments of our middle class. It is a kitchen table issue not conservative or liberal.
