It's also time to hold Donald Trump accountable to what he governed on. I thought the next morning after the election, there was a little squib in the paper, 2,000 workers are going to be laid off in Lordstown, Ohio and Lansing, Michigan.
We have seen numerous instances in which American businesses have brought in foreign skilled workers after having laid off skilled American workers, simply because they can get the foreign workers more cheaply. It has become a major means of circumventing the costs of paying skilled American workers or the costs of training them.
China reformed its state sector before, in the late 1990s. Tens of millions were laid off at the time. That was scary and we had warnings of social unrest. But it did not happen. Instead, there was a restructuring in our economic system. I am not sure if China will follow a Western playbook in this respect.
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