On Sat, 22 May 2004 12:44:50 GMT, wrote:

I dissagree, I think the US standard of living will fall some and Chinas
will rise (as you said).

No, that's not what I said. The American standard of living will
probably continue to rise, thanks to the unequaled productivity of
American workers (now mostly in service sectors rather than in farming
or manufacturing). The growth rate over the past year is close to 5
percent, which is something you expect from developing economies, not
developed ones.

To the extent that trade influences standard of living, the downward
push by higher oil prices will probably be more than offset by the
upward push by the lower cost of imported goods from China and
imported services from India.

China's standard of living will rise also. That's the glory of trade:
everybody wins, if the protectionists get out of the way.

all the best -- Dan Ford
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