China to bid on US rail projects.

[RandomThoughts]

Race to the bottom at work.

A country with a more efficient system, by lower wages, or totalitarian control over things like worker rights and safety can bid lower.

So 'race to the bottom theory' says if you don't make your country the same, then you lose the race to the bottom. And that loss means loss of jobs, until your country is just as low in wages, and can compete again, once more challenging that bottom spot on societal systems.

LOL.


Nothing against China, but that is how free trade and unregulated capitalism works. A few hundred years ago when production was less then demand, and when speed of information kept companies smaller, it was not as big an issue, but you can see it in many sectors and situations.

http://www.huffingtonpost.com/2010/03/13/us-highspeed-rail-china-t_n_497854.html

[Warren Stupidity]

1. Unfortunately for us China is racing to the top.

while we are busy creating paper wealth from fancy investment instruments, buying congress to create rentier franchises, and fighting endless wars primarily to line the pockets of the uber wealthy, China and other nations are out developing the infrastructure technology for a post peak climate impaired world. We are fucked. Thanks Ronnie!

[FreakinDJ]

2. As Greenspan said : "What we throught was true - wasn't"

Even Allan Greenspan admitted during testimony to the Senate the Economic Theories - Trickle Down Economics specifically, was flawed and the cause the current Global Depression