I heard something interesting on the radio yesterday morning. It was on KRLD news talk radio, and I’ve looked for it online, but I couldn’t find it. I did find something similar, but the radio version must have been the recap.
Basically, they were blaming the failing global economy, single-handedly, on China. Now let me just say right now that I do not know a lot about global economics. President Obama did say he has an opposition to China’s currency manipulation yesterday, although I don’t know exactly what he meant by it. From the articles I have been reading, China’s economy is doing very well. My question, based off the news I heard, is this. If China is somehow responsible for the failing global economy, wouldn’t that make us responsible too? A large percentage of the stuff in our retail stores was made in China.
Here’s an excerpt from engineeringamerica.org. “Consider all the “made in china” stickers you see. The products wearing those labels and all the jobs that went into their manufacturing were out-sourced to China because it was most economical to do so. America produced the entrepreneurs to design the products, and China produced the cheap labor. If the educational trends hold, China will house the innovators, and America will be thrown the scraps from their powerful economy.” We do outsource a lot to China and do we expect them to always be the cheapest option? Do we expect them not to build their economy off their hard earned dollars?
I guess that comment on the radio just took me by surprise. If the implied statement is true, then I think our spending habits and need for new stuff would be the culprit, not the people in China, working for low wages trying to feed their families. And if they are to blame, isn’t there something very wrong with this whole system?
On a similar subject, I was having a conversation with my friend Jerod yesterday and I said we were cheap. He immediately retorted, “I am not cheap, I’m frugal”. We then discussed the meaning of these two words. Here’s some of the dictionary definitions:
1. economical in use or expenditure; prudently saving or sparing; not wasteful: a frugal manager.
2. practicing economy; living without waste; thrifty
[cheep] adjective, -er, -est, adverb, noun
1. costing very little; relatively low in price; inexpensive: a cheap dress.
2. costing little labor or trouble: Words are cheap.
3. charging low prices: a very cheap store.
4. of little account; of small value; mean; shoddy: cheapconduct; cheap workmanship.
5. of poor quality; shoddy: cheap furniture ; cheap and nasty
6. stingy; miserly: He’s too cheap to buy his own brother a cup of coffee.
- Value, for the money spent
- Long term use of the item
- Price shop
- Possible used item
- Comparison to similar items with different price points
- Want versus need
- Is some newer style or technology coming out soon