Today I heard the Chinese are selling a rip-off of the RaspberryPi called the OrangePi.
Before long, all our consumer and professional goods will be "Made in China". China is still a low cost manufacturing area and we are happy for them to have low wages and sweat-shop working conditions which would not be accepted here.
We complain about their pollution yet are happy to pay low costs for underpants, fridges and everything. Nothing, it appears, is made in the West.
As the Chinese get richer they will expect better working conditions and will refuse to be sweat-shop fodder. When this time comes China will become another Japan. No doubt, we will look to other countries with sweat-shops and low costs: we are addicted to low costs.
In the end this cannot be compatible with "living within our means". Our low costs for borrowing will end and we will catch a cold. The only answer, in the longer term, is to bring back manufacturing to the West and pay realistic prices. The writing is writ large on the wall. China is gradually ruining the West and we are all fools to be so taken in. Sadly, it is very hard to fight.