global goods. It's a huge market for export contries. And to be competitive, export countries have to cut wages of the workers, which consequently leads to weaker spending power. And this in turn makes export countries have to export more. This is a downward spiral.
What do you think China should do to cut this downward spiral or vicious cycle and become more self-sufficient and less dependent on other countries like US.?
Good thinking! :)
Have a great weekend!