Canada can’t compete with Chinese manufacturing. Their labor costs are too low. The only way to “compete” domestically, would be to drop wages to below minimum.
This is exactly what strategic tariffs are for. China has every opportunity to bring in their EV’s…but the price tag is adjusted to match what Canada can produce locally. It prevents our own industries from having to run below cost just to compete with parts made in China.
Which is actually detrimental to their own domestic labor situation. It would be insane for Canada to follow China’s lead. Automation is great, when it helps improve the lives of workers…but, it’s terrible if it makes sizeable chunks of your entire labor force obsolete.
On paper, who cares? Markets adjust. In reality, those people don’t just cease to exist once you’ve replaced them with robots. You either have to have a financial framework set up to provide for them, like UBI…or you’ll end up with an unemployment crisis on your hands.
Canada can’t compete with Chinese manufacturing. Their labor costs are too low. The only way to “compete” domestically, would be to drop wages to below minimum.
This is exactly what strategic tariffs are for. China has every opportunity to bring in their EV’s…but the price tag is adjusted to match what Canada can produce locally. It prevents our own industries from having to run below cost just to compete with parts made in China.
China also invested heavily in automation, so they need far less labor than any manufacturer in North America
Which is actually detrimental to their own domestic labor situation. It would be insane for Canada to follow China’s lead. Automation is great, when it helps improve the lives of workers…but, it’s terrible if it makes sizeable chunks of your entire labor force obsolete.
On paper, who cares? Markets adjust. In reality, those people don’t just cease to exist once you’ve replaced them with robots. You either have to have a financial framework set up to provide for them, like UBI…or you’ll end up with an unemployment crisis on your hands.