[quote="Michael_C, post:12, topic:274447"]
The very thought of the bread basket of the world importing ANY food from China is crazy.
It's eveidently so cheap to import because they have no standards/regulations.
Contrary to what people think wages is not what drives up prices in the USA, it's opressive regulations. But I digress...
Well, to be honest, its a bit of both. Items with high margins and low per unit shipping costs it makes sense to have them made overseas where production costs are pennies on the dollar here. It costs Apple less to have an iPad made in China and shipped over here than it does to have it made here, where the labor costs are 4-5 times what they are in China. Now, automobiles and industrial equipment, big difference, but the margins on that stuff is much smaller, precisely because of direct labor and ongoing overhead (retirement accounts, healthcare costs). We've all heard that it cost GM more money per vehicle in labor related costs than it does in raw materials and the cost of assembly.