Comment by slt2021
the trade has increased because jobs have been offshored, corporations have been running labor cost arbitrage and making a profit from a difference in labor cost in US vs elsewhere
the trade has increased because jobs have been offshored, corporations have been running labor cost arbitrage and making a profit from a difference in labor cost in US vs elsewhere
And as with most arbitrages, costs have lowered as a result. It means a piece of technology with thousands of individual parts can be in your hand for $200. Labor efficiency differences have resulted in an explosion of value-for-dollar for the American consumer.