WHAT KRUGMAN MISSES IS THAT ITS NOT THAT AMERICAN STUFF ISN'T "CHEAP ENOUGH" FOR THE WORLD MARKETS...
ITS THAT AMERICAN STUFF...DOESN'T EXIST ANYMORE..!!
WE HAVE TO START MANKING COMPUTERS, CAMERAS, AND TVS...BEFORE WE CAN MAKE THEM "CHEAP ENOUGH"...
YOU CAN'T PUT THE PRICE BEFORE THE FACTORY...YOU HAVE TO "DO" BEFORE YOU ARE ALLOWED TO "DO CHEAP"...
THERE IS NO SIGN THAT A WEAK DOLLAR WILL "BRING BACK" MUCH MANUFACTURING...IT MAY KEEP THE TINY BIT THAT IS LEFT...
BUT THE DYNAMISM OF CHINA AND ASIA...IS REACHING CRITICAL MASS NOW...AND AN AMERICAN RECOVERY IN MANUFACTURING LOOKS A LONG LONG WAY OFF...
REMEMBER THE ASIAN ECONOMIES ARE ALSO MOVING TARGETS...WHICH A CHEAP DOLLAR MAY NOT INFLUENCE DIRECTLY...OR VERY MUCH.
