our federal government has been trying at equalize the import tariffs for years. problem is many U.S. companies lobby against such an increase leveling the playing field, as it cuts into their profits.
it was forecast upwards up 10 years ago that the Chinese' standard of living would rise to the point where it was approaching parity with western countries. while there is a ways to go, what is happening in China now is the harbinger of that prophecy come to fruition.
I'll predict 2 things in 5 years: first, we'll be paying a lot more for Chinese imported goods. Second, as a result manufacturing will be moving back to the U.S.*
(*as there are very, very few places in the world where low wages and good manufacturing takes place)
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