I compiled a spreadsheet from three sources plus the “AAA” list provided earlier and included the U.S. in the chart to show unemployment, healthcare, taxes and national debt as a percentage of GDP (I hope you can get to this. I can’t seem to embed the damn thing!) —
I used the following sources for the data for the above table:
The business climate is a measure of how various factors aid or harm the chances of business as a whole thriving in a particular region. It is based on systemic factors such as regulations and government policies, not on actual business performance or variable factors such as whether or not there is a recession happening. Assessments of the business climate are based solely on how good the situation is for businesses, regardless of how that affects society as a whole
When comparing the business climate of countries around the world, the respective legal systems play a major role. Factors include how well-protected intellectual property rights such as patents are, the state of law and order, and whether or not there is significant political corruption. While a corrupt system will be a great benefit to some individual businesses, it’s seen as a bad thing for business overall as it lessens the advantages available to businesses which compete legally, for example those which produce the best products, have the best marketing and set the most effective prices.
The business climate is also affected by the availability of resources. This includes how many people of working age are available, how well-trained and well-educated the population is, and whether legal practices make it easier or more difficult to recruit staff. There are also effects to do with machinery and other capital such as how easy it is to get credit in the country to buy equipment. In manufacturing in particular, there is an effect from the cost of electricity, water and gas, which can depend on how much competition there is in the utility markets.
More than half of the 281 corporate executives who responded to the survey named China as the most favorable country. India was second with 45.1 percent, followed by Mexico, the United Kingdom and Canada
The corporate decision-makers who named China as the best for investment most frequently cited its “growing economy/ business opportunities,” “labor cost” and “low overall/operating costs” as reasons for their positive perceptions.
What this means is that if you have virtual slave labor, a large population and no regulations, business executives see where they can maximize their profits.
Although China and India are listed at the top, neither country has a good legal system that protects intellectual property and they do not recognize, respect or protect international copyrights or patents, which means that we here in the U.S. spend the dollars for the R&D of new medicines or the creation and production of a movie or music CD, and they can pirate it at will, robbing the copyright and/or patent holders of millions, if not billions of dollars annually (collectively speaking). And that is largely the fault of our weak negotiators who do not represent us well in trade deals.
Nor do you see in their calculations any value placed on quality of life and job satisfaction among workers or health and safe conditions or environmental health, which is why our laws and perception of what a business executive should weigh in as factors of a good decision should be more than merely maximizing profits.
By maximizing profits only, you are placing no value on good corporate citizenship.
I question the wisdom in allowing the U.S. to become a Third World country where the rich and corporations control the wealth and benefit from the money-controlled government with low taxes, no regulations to ensure proper corporate citizenship and where the vast majority of the population has no power or control over wages, benefits and working conditions and even less power in a legal system that benefits those in power who control the wealth.
This is where the U.S. is headed. We have forgotten the lessons learned from the robber barons at the turn of the 20th century and all the damage they did to workers, the financial system and the environment. That is why labor unions came into existence in the first place. That is why regulations were imposed to ensure that corporations would not damage the environment or use workers like slaves. That is why we banned child labor, indentured servitude (forced slave labor) and slavery.
And now Big Business and right-wing economists are telling us that we must be like China — once our mortal enemy with a chilling list of human rights abuses which still persist, and callous disregard for the environment, working conditions and consumer protection. Where you have large populations living in extreme poverty, you have a desperate pool of labor willing to do anything to survive.
\America had, at one time, moved past those shameful days of the robber barons, slavery and inequity in power between management and labor. Do we really want to regress and digress back to that shameful time?