/biz/ - Business & Finance

>>11590063
>A big reason for the dearth of middle-class jobs is the offshoring of millions of middle-income factory positions to countries with lower labor costs, such as China, in recent decades and the spread of lower-paying service jobs
Well there ya go
If you treat the whole world altogether as one economy (through free trade agreements) then the distribution of jobs and /kinds/ of jobs will equalize across the world, even if it takes hundreds of years
This is why the Chinese now have a middle class, who have seen almost ALL of the world's economic growth for the last twenty five years

Also, being realistic, we can't simply keep up the relative economic growth and prosperity that we (America) had in the years right after WW2, it was simply a high point that people look back to, but on the other hand we don't have to live in poverty or a cyberpunk future


(To me it's a lot like the crypto bullrun in 2017, every new level of wealth achieved becomes the new floor that you worry about going below, even though you never expected to reach it in the first place)