Why do tennis shoes made in China now cost as much as tennis shoes made in the USA?
I was shopping for new tennis shoes recently. I looked at the New Balance shoes first, because I knew some of them were still made in the USA. I did find ONE pair of tennis shoes made in the USA among all of the shoes made in China. The "funny" thing is that the shoes made in the USA and in China were priced identically.
I'm old enough to remember when America's retail industry first began sending all of our jobs to China in the 1980's. At first, everything from China was ridiculously cheap. Shoes cost about $6 per pair. T shirts were about $3. TV's cost about $99.
Now that the retailers have succeded in putting most of the American manufacturers out of business, than have jacked up the price of the Chinese made goods so that they now cost exactly the same as the American made products. Even though they pay about 25% of the price for the Chinese made products.
Is the a lesson in economics 101 relating to monopolies and how they jack up their prices as soon as they eliminate the competition?
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1 comment
Because the retailers are ripping off the American people and destroying our economy.