August 23, 2011
The Post had a front page article that implied that we should be concerned about the possibility that GE and other companies were transferring sophisticated technologies to China. Actually, the same argument that holds the United States benefits from importing low cost manufactured goods from China would also hold that it benefits from importing low cost high tech products from China. The latter would put downward pressure on the wages of engineers and other highly-skilled workers, but lead to lower prices for high tech products and thereby free up money for other consumption.
It is interesting that the Post so explicitly expresses its concern, in the news section, about losing high skilled jobs due to trade, but applauds the loss of less-skilled skilled jobs.
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