If we continue to purchase items from overseas, how will that effect our economy?

Question

WE as in America. How much are workers paid overseas?

Answer 1

eventually we will all have no jobs but everything will be so cheap we wont need them. joking most of these countries will eventually become just as expensive to make things as here, making america cheaper but thats a long time from now. your not the only one who doesn't like whats going on, it just takes a long time to get these countries to rise up to our standards which is what causes prices to rise.

Answer 2

The USA has been living in a bubble, free trade has popped it. Wages in this country are artificially high to the level of skill required to do them. Jobs leave the country since importing the product is no longer prohibitively expensive, and the cost of production drops with the lower labor cost abroad. We then hamstring ourselves by purchasing items from abroad at bargain basement prices (Walmart). It's bred deeply into us to buy cheap. I believe the expression is cutting ones own throat. If it weren't for the rising price of fuel however I believe the cost of living would drop. As it is our only hope is to pile money into education so that we can produce skilled workers to do the jobs that others cannot.

Answer 3

It will help the economy in more ways than you can imagine, and we will continue to become wealthier for it -- just as has been happening all along. Unfortunately most people today never bother to learn something that was well understood and explained by Adam Smith and David Ricardo in the UK over 200 years ago. They understood that international trade is a good thing, not a bad thing. In a free economy the only reason you import something is if it makes you better off.

Answer 4

Imports free up labor and resources here to create more wealth.

Answer 5

it will cause problems...i had a job for almost two years and then the boss sent all work to the Phillipines to other office...ugh