I think the biggest concern related to your issue is the lack of financial literacy skills we see in many people today. In my high school, there was a social studies course that included a chapter on financial literacy topics (such as various types of savings accounts, banks vs. credit unions, how to calculate a loan's true cost by including the interest over the loan's lifetime, etc). Between the push to teach everyone STEM and other reasons, this course no longer exists in the HS curriculum there and in many other districts. As a result people don't know how to manage their money in a way that allows them to balance paying off their essential bills with saving money for luxuries and putting something away for the future whenever possible.I don't think that throwing money at this problem is going to help.
Even if it doesn't happen on any sort of large scale, it seems there are some people that are slowly realizing Chinese products are cheap for a reason and that the cheapness comes with its own costs, many of which are unpleasant. Whether this encourages any sort of meaningful decrease in the overall demand for, and consumption of, cheap Chinese goods remains to be seen.I think what we should be focusing on is reducing our reliance on China.
When the revised tax brackets under Trump's tax plan first came out, a work client actually asked me what the cutoff value was for the highest bracket so that they could try to avoid falling into that bracket. Sure enough, they actually did what was necessary to stay under that value ever since.(less than .01% of people reach the top tax bracket mostly because the rich are smart enough to not reach that bracket)
he federal government has been rolling out its response to the coronavirus crisis, trying to slow the spread and stimulate the economy, which has taken a severe hit, and by agreeing to a massive stimulus package after midnight on Wednesday.
President Donald Trump is signaling that he's considering loosening coronavirus social distancing guidelines amid the growing economic fallout, while public health officials warn that approach could quickly overload hospital systems and cost more lives.