Cordell Hull

  • Cordell Hull, U.S. Secretary of State, 1933-1944; Nobel Peace Prize winner, ardent free trader

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    Scott Peterson

    Given that China has hundreds of millions of citizens in its hinterlands that have a standard of living substantially lower than that of the coastal Chinese, the idea that Vietnam or Bangladesh have labor cost advantages is absurd. China can either shift more of its population to the areas where workers are needed or shift some production to the hinterlands. Either tactic would benefit both Chinese citizens and the government of China.

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