Technology is also damping upward price pressures through its effect on international trade,

Technology and the Economy.

The problem is you cannot have free global trade with highly restrictive, regulated domestic markets.

Increased jobs are the consequence of increased trade. Increasing jobs more than output implies a fall in productivity and standards of living. That surely cannot be our goal.

Chinese productivity is the highest in the world but the way they do it is by borrowing the technology from abroad, either by joint ventures or other means.

Without this trade barrier, China's information technology industry would have grown much faster.