The Europeans are feeling the effects of the Chinese/Indian expansion. German companies, among others, are outsourcing. Unemployment is also quite high in the Union, and deficits as related to GDP are equal or greater than the US. Unless we can produce wealth from nothing, bringing India and China into the 21st century will cause an equalization of wealth across the world.

OK OK ..The fking end of the world is nigh....;

and GW is nothing but a dimwitted punk...

There is no way we could maintain our standard of living, not to mention the high social costs of healthcare and social security - unless we were open to imports. Imagine the factories that would need to be opened (and the workers needed), if the spigot was cut off??

Do we import too much stuff that is junk, and are we building a throwaway society? Yes, but those are only fringe issues..

Look at it from the other side - our walmarts and other importers will cut your throat for a nickel. How would you like to be a low tech / low wage manufacturer in this worldwide economic environment?? Talk about tough..

And herein lies the US's Big White Hope, which I think is going to turn gray over the coming years. In their shortsighted lust for profit, US companies are training India and China how to compete against us. US execs liked the model that had highly paid management stateside and low-paid slaves in 3rd world countries, but it's only a matter of time before a management class emerges in those 3rd world countries and cuts out the US middlemen. India and China will begin creeping up the 'value chain' and not only produce goods that are more and sophisticated, but the entire development cycle will take place over there - without American fingers in the pie. At that point, WTF do you need some American guy making $47k/hr?

We are talking about US investment in those Chinese and Indian factories....

The big pharmaceutical companies make the oil industry look like Mother-f'ing-Theresa in comparison.

Why can't the government hire those hatchet-wielding buyers from Wal-Mart who beat down the 3rd world countries over a $2.00 polo shirt and get them to run Medicare? Drug and oil companies are NOT operating under free-market conditions, otherwise Viagra would be like a dollar a rod. :cool: