I begin the with premise that American workers cannot compete with foreign wages on the production of �basic goods� (most Wal-Mart stuff) excluding food. We should stipulate that and move on and grow our nation.
Where we must focus our competitive efforts are on the production of �high-end� items (space, planes, heavy equipment, technology, financial institutions, major construction, medical, high quality service industry, etc.) and all the ancillary services tied to them.
It�s like comparing Wal-Mart to Macy�s/Saks/Bloomingdale�s or Delta to AirTran (no slight intended). Extrapolate that to U.S. to China, India etc.
Of course there is global competition (EU, etc) to produce high-end merchandise but here we must compete and win. Here is our future. Our potential for growth.