El Pit wrote on Jul 6, 2019, 08:57:
Food for thought: if a US company buys cheap steel for millions or even billions from China to produce cheaper (which also help US clients because of the cheaper prices), it is okay despite US steel producing companies are getting screwed. If you buy a product (game) cheap on the world market from a seller from another country, it is wrong. In both cases the people who produced the steel/game are getting screwed - but in one case it is huge time and alright, in the other it is small time and bad.
This is the modern, janus-headed economy. Whatever - we chose it this way.
I'm not sure comparing Chinese steel to games is the best analogy. There are a lot of differences.
1. The Chinese government subsidized it with the intent of putting other countries out of the steel business.
2. China manipulated its currency for the same reason.
3. Steel has to be shipped, which adds to the price.
4. It has to be imported which subjects it to tariffs and volume restrictions
5. Lots of people do not think that flooding the US with cheap steel is good. Tapping into that is how Trump got elected.
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