Our system has delivered a flood of cheap goods thanks to large institutions.
In the past Korean electronics companies copied Sony and its Japanese cohorts in their early years by exporting cheap goods.
These economies are popularly perceived as excessively export-dependent, flooding the world with cheap goods, but doing little to boost demand.
ECONOMIST: Global growth is looking less lopsided than for many years
He said the loss of US jobs was due to a poor export performance, rather than imports of cheap goods.
Countries that have leant on exporting cheap goods to the rich world need instead to turn to internal sources of spending.
"Chinese migrants or former labourers on construction sites are opening shops, using their contacts to get cheap goods from China, " he says.
Cheap goods often expand our purchasing power for other goods, but if cars are destroyed, some will find their spending power greatly reduced.
Mr Kalyani says he was early to realise that India could not be a success relying on cheap labour to produce cheap goods.
It's a fact of a global economy, and will continue to be, as long as Americans (and Europeans) demand cheap goods--and incomes in emerging economies remain low.
The Fed's hawkish credibility, along with cheap goods from China and other low-wage countries, has helped to keep consumer-price inflation relatively tame despite exceptionally loose monetary policy.
Oracle saved businesses a fortune, and they passed the savings along to the rest of us in the form of everything from cheap goods at Walmart to cheap trades at Charles Schwab.
It may also help China to develop domestic demand that can take up the slack when America's appetite for cheap goods falters, as it inevitably must given the paucity of its national savings.
If the yet-to-be-named car is a success when it goes on sale next year, it would herald the emergence of Tata Motors on the global auto scene, mark the advent of India as a global center for small-car production and represent a victory for those who advocate making cheap goods for potential customers at the "bottom of the pyramid" in emerging markets.
Though this sort of overheating would normally trigger inflation, it's plausible that prices were held in check by a combination of cheap Chinese goods and cheap labor from East European immigrants.
Either the Chinese goods they do buy are more expensive or the not-Chinese goods they buy instead are more expensive because of the absence of the cheap Chinese goods.
FORBES: The European Union is About to Fine Every European Union Citizen
He agrees with Pichler that the problem is symptomatic of the West's culture of cheap disposable goods.
And many of them are setting their sights on US shores, where an admired iconic culture and cheap luxury goods beckon.
Yaohan owns 29% of the Whimsy amusement arcades, which reward winners with tickets that can be exchanged for toys and cheap electrical goods.
And it suggests that America look at its own role, namely its love of cheap consumer goods and a national savings rate that hovers at or below zero.
In turn, Kazakhstan was almost flooded with cheap Russian goods.
Still, with real wages stagnant for decades, many Americans who have grown dependent on cheap imported goods such as polo shirts or power tools could see their purchasing power decrease.
The US gets a cheap and stable source of funding for its trade deficit, allowing the economy to continue to grow as consumers purchase cheap foreign goods - whose low prices keep inflation in check.
Moreover, America tends to spend its cheap East Asian loans on cheap East Asian goods.
Many Chinese businesses have been built on using cheap labour to produce cheap, commoditised goods such as clothes and shoes for export.
The more people see that they can create and maintain their own objects around them, he believes, the less they will squander resources on cheap and transient goods.
Thirty percent of the merchandise is provided by China, a cheap source of goods, but Girouard is wary of increasing business there for fear of being too dependent on suppliers from a single country.
应用推荐