Why Are The US Olympic Uniforms Being Made In China?

By Steve Denning – If, as William James wrote in 1906, that the Olympics are “the moral equivalent of war”, then is the decision to make the US Olympic uniforms in China the moral equivalent of treason?

John Bussey at the Wall Street Journal thinks we should actually celebrate having the uniforms made in China. In any event, Bussey says, Chinese imports constitute only a tiny insignificant sliver of the US economy— only 1.2% of total US personal consumption expenditure. No big deal.

Well, those Chinese imports might be a tiny sliver, but it happens to be a sliver that matters. What economists often miss is what is happening behind the numbers of dollars in the real economy of people. more> http://tinyurl.com/buo8y6h


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