I am 75 years old and have seen a lot. I watched the Japanese undercut the USA prices while making excellent cars and machines during the 1970s and early 1980s. I also watched the Japanese prices rise to equal USA cars and machines in the late 1980s and 1990s. I am now watching the same scenario with China. Add to that the very good chance that Donald Trump will soon be President and will demand parity on prices with China. I have read his thoughts on this before and I did again this morning. From the BBC:
"Mr Trump, in his campaign manifesto, pledges to "cut a better deal with China that helps American businesses and workers compete".
He sets out four goals that include immediately declaring China "a currency manipulator" and putting "an end to China's illegal export subsidies and lax labour and environmental standards".
Latest figures from the US government show the trade deficit with China reached an all-time high of $365.7bn (£250.1bn) last year. By February this year, it had already reached $57bn.
There was no immediate response from Beijing to Mr Trump's comments, but he is seen by many in China as an inspiration rather than an antagonist, says the BBC's Vincent Ni."
To add to this, China is experiencing a demand for higher wages and better working conditions which will continue to drive up the cost of Chinese made goods.
So I recommend to those of you who are building your shops to expect a considerable price rise in woodworking machines and tools in the next couple of years.
Me, I already have a very complete metal and woodworking shop that I have accumulated in the past 60 years when everything was much more expensive in comparable dollars. You are presently living in a "woodworker's heaven" with tons of top grade but cheap tools and machines. But like everything else, nothing is forever. I am convinced the "good times" are about at an end.
Planeman
"Mr Trump, in his campaign manifesto, pledges to "cut a better deal with China that helps American businesses and workers compete".
He sets out four goals that include immediately declaring China "a currency manipulator" and putting "an end to China's illegal export subsidies and lax labour and environmental standards".
Latest figures from the US government show the trade deficit with China reached an all-time high of $365.7bn (£250.1bn) last year. By February this year, it had already reached $57bn.
There was no immediate response from Beijing to Mr Trump's comments, but he is seen by many in China as an inspiration rather than an antagonist, says the BBC's Vincent Ni."
To add to this, China is experiencing a demand for higher wages and better working conditions which will continue to drive up the cost of Chinese made goods.
So I recommend to those of you who are building your shops to expect a considerable price rise in woodworking machines and tools in the next couple of years.
Me, I already have a very complete metal and woodworking shop that I have accumulated in the past 60 years when everything was much more expensive in comparable dollars. You are presently living in a "woodworker's heaven" with tons of top grade but cheap tools and machines. But like everything else, nothing is forever. I am convinced the "good times" are about at an end.
Planeman