Today, all the nations of the developed world, especially the G-7 nations, are producing the same things. We all produce motor cars, sewing machines, refrigerators, calculators, computers and all the good and services of our modern and we are all trying to sell these things to each other. None of us needs what the other has to sell. We only want it if it costs less. That is the main provision. If it is better made and dearer, we do not always want it. If it is better made and cheaper, like made in China, then we certainly want it. If it is not quite so well made but quite a lot cheaper then we will certainly make do with it. That is how we trade today. We are only trading things that we can make perfectly easily ourselves but costing a little more as we do it.
Saturday, February 8, 2020
MADE IN CHINA
Today, all the nations of the developed world, especially the G-7 nations, are producing the same things. We all produce motor cars, sewing machines, refrigerators, calculators, computers and all the good and services of our modern and we are all trying to sell these things to each other. None of us needs what the other has to sell. We only want it if it costs less. That is the main provision. If it is better made and dearer, we do not always want it. If it is better made and cheaper, like made in China, then we certainly want it. If it is not quite so well made but quite a lot cheaper then we will certainly make do with it. That is how we trade today. We are only trading things that we can make perfectly easily ourselves but costing a little more as we do it.
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