Is the western world reaching to the end of it's wealth?
I'm seeing currently a big deficit in western world economies. As I see it, western worlds are slowly beginning to decay in terms of standard of living as well as unemployment generally. I believe that personally, it's China that's becoming the essential problem. Yes, it might be due to the working conditions, but it's not something we can directly control. One even might argue for the sake of China, that their wealth is growing to a point where their middle-class is becoming bigger and their education might bring them even help with humanitarian problems.
The fact is, China is currently making products for fairly cheap price that everybody buys because of their price and in some cases, because there's no other option. For example, I don't know a TV brand that isn't manufactured in China. Whereas people, who are getting poorer in Western World, can't necessarily even buy an alternative option to Chinese products. Back in the days, "Made in China" meant "Cheap & Low-grade", nowadays it's more a "Clone". Like their cloned cars for example, which have structural problems that can mean death in a crash. On the other hand, if you really want a BMW X5-esque car, why would you care for a crash that's unlikely because you're getting a BMW X5 and confidence!
I feel that we're facing a problem here that China is getting their wealth out of western production & consumers. Basically, China is doing what's actually best for China and largely, this might help their humanitarian issues, while bringing couple others on the table though. But this wealth is strictly out of our pockets - production is either outsourced to China or it doesn't pay that much. Also, if country has social security employed, it's also taxing itself heavily and getting a larger debt figure, which is why it can't afford the growth of China.
So, what happens next? Monopolies or will Western World become the new Africa? How to solve the problem, if it even is a problem?