It is difficult to understand an article by an economist

Question

I'm practice reading article about "Technology and Income gap" on The NY times. Could anyone help me explain the following sentence?

I thought China has tried to keep down commodity prices?

"China and other emerging nations are already rich enough to bid up commodity prices and large enough to drive down the wages of a lot of American middle-class workers, especially in manufacturing."

Tkacka15 · Accepted Answer

doanxuanquy
I'm practice reading article about "Technology and Income gap" on The NY times. Could anyone help me explain the following sentence?
I thought China has tried to keep down commodity prices?
"China and other emerging nations are already rich enough to bid up commodity prices and large enough to drive down the wages of a lot of American middle-class workers, especially in manufacturing."

I understand that China is rich enough to offer competitive (increased) prices for commodities (e.g., crude oil, ore, etc.) they need, and they can produce goods sold on the US market in a much cheaper way than American workers, thus reducing wages of the middle-class people in the USA.

It is difficult to understand an article by an economist

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