Our standard of living continues to increase along with the developing world, and free trade deserves much of the credit.
Re:Apple, ARM, and Intel
by sudosysgen on Wednesday June 17, 2020 @04:09PM
(#23556114)
And eventually many countries in the developing world will have a higher power and higher standard of living than us, and our service industries will not have much of a comparative advantage or really much added value, and power relations will change which will completely upend the favourability of trade relations.
as the developing world improves their standard of living, so does the same decrease for people in the developed world, because these developing nations are no longer dependent on the developed one's.
It was always just a question of time with globalization in effect.
personally, i think that this is a good thing though. we in the developed world have been living unsustainable lives for generations, living off of the developing nations.
though thats most definitely not the only reason why everything has been getting harder for the working population. automation, higher efficiency, extreme concentration of wealth and more do their part in the current situation as well.