Aided by the plummeting dollar, the wage gap between American workers and their brutally exploited counter-parts in Mexico and Asia is increasingly being narrowed. Asked by a New York Times columnist why Siemens chose to build a new plant in Charlotte, North Carolina instead of China, a spokesman said that for highly skilled work, the labor cost differential wasn’t very big. “For this kind of manufacturing,” he said, “the US can compete with China.”
The lowering of wages is a key part of Obama administration’s goal of doubling US exports by 2015. While doing nothing to alleviate the jobs crisis, the administration spearheaded the drive to cut wages during the forced bankruptcies and restructuring of General Motors and Chrysler in 2009.