Chapotraphouse

Capitalist countries have avoided Marx’s epidemic of overproduction because they have come to recognize that workers are also consumers. These governments have let wages rise to drive up demand.

I am sure labor pressure had nothing to do with it.

China should learn from this example. It must enrich its own citizens by encouraging collective bargaining, providing social security, removing caps on wage growth, and raising the minimum wage. Doing so could allow China’s consumption to eventually match its production prowess. If Beijing does not adopt a more pro-worker stance, its economy will become more lopsided, trade tensions will rise, and Chinese citizens will not be able to reap the full benefits of the economic miracle that they have created and rightly deserve.

This means America will do the same, right?

America will do the same, right?