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It would be impossible to compete with India or other 3rd world countries simply because the wages they make are not enough for us to sustain ourselves. However, what will happen is this: America ships all its jobs out overseas. Their economey flourishes, while ours diminshes because we have no exports. As their economy strengthens, the government and retailers realize that they can charge more for products because people can now afford them; the famous "price increase." Our housing prices and other amenities will decrease because we are turning into the next 3rd world country. Before you know it, the jobs that were once "overseas" will be shipped back to America because it is simply cheaper. Sound familiar? This "balance beam" will just keep swaying back and forth.
How to prevent our economy from going to scraps:
The retailers need to realize that these huge profit gaps are ruining American lifestyles. If people would stop being total narcissistic greedy a$$holes, and instead of trying to milk every penny out of products, and instead give a reasonable price, then it would be much cheaper to live in America. If it were cheaper, then people wouldn't need as much money for the same lifestyle; therefore companies would not have to pay workers as much.
The overall lesson: If people stop being greedy, (stop kidding yoursleves, it won't happen), and make a couple sacrafices, then everyone will benefit in the long run.
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