If workers in china and india become as productive as u. S. Workers, what adjustments will allow the united states to regain its competitiveness?.

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13-09-2022
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If workers in china and india become as productive as u. S. Workers, what adjustments will allow the united states to regain its competitiveness?.

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devikabalrajan devikabalrajan · Answer 1 · 2022-09-17T10:55:52+02:00

If workers in China and India become as productive as U.S. workers, the arrangements will be made to regain its competitiveness

What adjustments will allow the united states to regain its competitiveness?

It is possible that there will be developments in manufacturing/services that will allow US wages to remain high, but in all likelihood either US nominal wages will rise slowly and foreign nominal wages will rise quickly to catch up, or US exchange rates will fall. balance wages. Some combination of the two is most likely.

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