Through The Static

April 7, 2008

Inflation in Asia Begins to Sting U.S. Consumers

Filed under: Economics,World News — disciplepete @ 8:38 pm

NYT:

BAT TRANG, VietnamThe free ride for American consumers is ending. For two generations, Americans have imported goods produced ever more cheaply from a succession of low-wage countries — first Japan and Korea, then China, and now increasingly places like Vietnam and India.

But mounting inflation in the developing world, especially Asia, is threatening that arrangement, and not just in China, where rising energy and labor costs have already made exports to the United States more expensive, but in the lower-cost alternatives to China, too…

…Developing countries have had bouts of inflation before. Indeed, some are famous for them, like Brazil, which experienced triple-digit inflation in the late 1980s and early 1990s. But two things make this time different, and together promise to send prices higher at Wal-Mart and supermarkets alike in the United States, just as the possibility of recession looms. (article)

Looks like some of the useless crap you buy is about to get more expensive!

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