<font color="blue"> To me, theis means that if our companies use cheap labor from other countries that our workforce must compete and then cheapen our labor rates to match. The other countries can raise their rates to compete also. So... our lifestyles will be averaged with these third world countries. Places like India will be richer and we will be poorer.
I'm not entirely sure I want to live like they do in these poor countries. Is our quality of life on it's way down? </font>
Assuming a relatively static nature of things the answer would be "yes" our quality of life will go down. The reality is that as long as there is innovation, changing technology, and developement then the nations that lead in those things will continue to prosper, but it does not mean that all people will prosper.
But you make a fairly strong case for the "buy American" attitude and in many consumer goods we have lost all the jobs and that has lowered the standard of living for many. Wal-Mart now makes up 1% of the entire Chinese economy. Many other sectors are also growing. Other underdeveloped nations are progressing, India is very strong. Korea and Indonesia are now leading edge electronics producers although they still lag in many other areas. Our jobs have suffered but our consumers push for the cheapest things, our strengths lie in quality and design, the two are often diametrically opposed.
My preference is to buy American, when that can't be done I try to buy from an American company. The main purposes of those habits is to keep the money here, or at least keep more of it here. Even 100% American companies use foreign components, it is the reality of a global economy. But the difference is that foreign owned companies siphon off the profits and take them back to their home nations. Many foreign companies have sizeable investments here, but they have much larger investments in their home nations. They look to us as a market to get money from and to take it home.
So going back to your question asking if our quality of life will go down. . . maybe! But if we can do what we can do to support our own economy then we will stave it off and we will buy ourselves time to develop the next great thing. And each of us individually play a small role in that process. So if you want your children to prosper, it is probably best to support your own economy wherever is possible, try to buy American when possible, when not possible try to buy American owned but foreign produced (and then assembled here if possible). And those statements would apply to tractors, cars, TV sets, shirts, pants and even salt & pepper shakers.
Some level of foreign investment is positive, some level of foreign competition is positive. Those things drive our markets to push development farther ahead, to offer superior designs, to inovate new ideas.
Mike C wrote this about Kubota: <font color="green"> They also claim that they make the diesel engines in the U.S.A. </font>
Mike, nowhere in that document does Kubota claim to make their engines in the US. To my knoweldge Kubota does not have any casting or forging facilities here in the US. I'm under the distinct impression that Kubota ships over the basic engines and they do final assembly here, that would include the modifications used to adapt them for tractor, boat, or forklift uses, etc.