Source: Reason
by Kerry Welsh
“For 15 years, I was responsible for hundreds of millions of dollars in Chinese imports entering the United States. I invented two enduring products — the ‘Backpack Beach Chair’ and the ‘Magna Cart’ portable hand truck — that can be found in Costco and other stores to this day. Let’s use the Magna Cart to illustrate how America made billions while China made crumbs. The Chinese factory charged me $10 for a cart that cost them $9 to manufacture. U.S. retailers bought it from me for $15, then sold it to consumers for $30. … each Magna Cart created $21 in profits, of which 95 percent went into American pockets. Selling 5 million carts meant a $100 million gain to the U.S. economy. Yet the official trade statistics framed that as a $75 million addition to the trade deficit.” (10/08/24)
https://reason.com/2024/10/08/i-did-business-with-china-and-america-won/