And how do you help him by making it illegal for him to trade with people in China? This whole America vs China thing is nonsense. There is no America or China on the market. There are only induviduals. How exactly do you help an induvidual American by restricting his options of who he may trade with?
Bread is now going to magicaly appear on his table, now that he can not exchange stuff with induviduals and companies from China anymore?
We would have been truely bankrupt a long time ago. Not this quasi bankruptcy we have now where we can monetize our woes.
Look you asked for an Austrian prespective then ignored the important content of my response.
Please re-read the Law of Comparative advantage AND the division of labor. Understand why they create economic prosperity before continuing.
I have provided links for you to get started.
You don’t seem to understand how we maintain our trade deficit so this is quiet an odd remark for you to make. To understand how we can maintain such a backwards trade deficit you need to learn about the US’s current monetary system. Ultimately though it seems like this point is somewhat non-sequitur to the topic at hand.
If you remember my first question I said that we need to be asking why a factory worker needs to earn so much. The issue as you have just pointed out is that the cost of living in the US is exorbitant. It’s not that other countries can out bid us on labor but the problem is that we are incapable of competing on the global labor market. We need to be asking questions as to why. If we use compulsion to force our country into isolating it’s labor market domestically we will actually be wasting resources. If someone else can do the same job for much less that is economic prosperity. That lowers the cost of living and helps prevent the waste of natural resources. On the other hand, violently forcing a non-effecient body of individuals to produce is wasteful on natural resources. This effects the resource pool of the whole globe, everyone is much poorer and there is less wealth to go around as less things are being produced.
What you want is to produce the highest volume of widgets while using the lowest amount of resources. What you are advocating is opposite of that, produce the least amount of widgets and use the most resources possible. Less widgets and more resources used means higher cost and less to go around for everyone. Rather then address those specific issues which cause the labor market to be artificially high in the US you sound like you would rather use violence to compel business owners and workers alike into a nationalist or fascistic formats of trade.
The point is that the cost of living is too high in the US. Austrian’s have outlined in extreme detail the reasons for this. We often use the phrase, “You cannot eat your cake and have it to”. Though american’s would like to think so.
Still, by blocking trade to china our cost of living would be even higher than it is now and the labor market would be in even more disarray. I’m not defending the status quo, there are some serious adjustments that need to be made but creating high tarrif’s or restricting trade with other nation’s is the exact opposite of what needs to be done to create economic prosperity.
Alot of this understanding will come to you when you study basic economics. Economics is often counter-intuitive. But we have to observe both what is obviously seen from an economic policy to consequences which are also not seen.
I’m not sure what your point is here. I outlined this in my previous response. Capital wealth in countries is developed over generations, not over night. These countries are just getting started on their industrial developments where as we started ours over 150 years ago.
Also, how do you know they even want to see movies? You make a typical american fallacious mistake in assuming that leisurely activities in other countries would be identical to ours. Dare I say you have never lived in a 3rd world country before? I personally have for quiet some time. It’s not like what you describe at all, and many countries have automobiles, even 3rd world ones. 
I recommend going back and re-reading my original response.
FYI This is factually incorrect.
This is only partially true. In most situations it’s a highly corrupt government partnering with those large land owners and larger companies.
Do you have any idea what banning imports to China would do to the American economy? Do you have any idea what that would do to the way that Americans live? Also you act as if the Chinese don’t consume any American goods. Americans will need to change thier behaviors in accordance with economic conditions, and also the standard of living in both countries will continue to rise by making the entire pie bigger. Finally through providing capital to these places the United States would benefit dramatically. Finally don’t you think that causing the standard of living to rise world wide is a reasonable cause?
Now you are insulting farmers by implying it takes no knowledge to farm.
Also over 90% of economists support free trade, its one of the most highly agreed upon subjects in all of economic thought and remember, factories and laborers don’t really go anywhere, there are advantages to United States labor, Honda Toyota and many foriegn car manufacturers have plants in the U.S
The machinery in factories can go anywhere. Just the building frame that can’t.
The austrian perspective: we’re not racists. If the chinese want to work for lower wages, so be it. They’re a poor nation, and historically, the only way to make your country rich is to work for crumbs for awhile, build your capital goods and knowledge then demand higher wages as your productivity goes up.
Japan had “slave labour” for awhile, but now they’re nearly western for most purposes, same with the united states. The chinese and indians have as much right to this process as we did.
If we shut down the walmarts and only buy domestically, you basically condemn a chinese factory worker to a life of subsistence farming - after all, that’s where he mostly likely came from in the first place.
Could you please elaborate?
Roads can be publicly owned. There have been publicly owned roads in the US since before the founding. Nothing magic about roads. And our military spending is ridiculous. We have 5% of the world’s population yet more than half of the world’s military spending. We effectively pay for Europe’s, Japan’s and South Korea’s defense using our own troops/weapons. Our military spending could be reduced dramatically. Again, schools can be privately owned. Nothing magic about schooling, it’s just like any other good/service.
Not all service-based economies are suffering the same problem as the US. Look at Germany, the world’s largest exporter and with the 2nd highest current account balance. Their economy is 69% services.