This guy doesn't think so and I tend to agree with most of this article. It's 7 pages long. The Rise Of The Rest
Very well thought out and well written article. You wonder, as the stand. of living in other countries rises will the advantage that they have in manufacturing because of lesser labor costs eventully disappear or shrink to a point that manufacturing may return in some industries. We've already seen where Japan lost it's edge in labor costs to other countries like Korea and Thailand. Will they too someday lose their advantage to other countries in Asia or in Africa. Meanwhile, the biggest winners in America might be farmers who now more than ever have a large foreign market to sell to. They might even be able to get by without subsidies.