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#8
09-20-2010
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I'm familiar with comparative advantage to some extent. Like how advantageous it is for companies to outsource all their labor to China, where things can be produced for slave wages. Sure, it gives us the advantage of cheap goods...But no manufacturing jobs. So we get a "service economy." And of course our "free trade" with China isn't really free, as China has tariffs on American goods.
I'd rather China let their yaun appreciate 15% than have tariffs. But outside of China taking action, I think we should. 
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