Export the Lawyers....?

Here's an interesting story from the AP about China's rising costs. Remember that we have a 32% non-wage cost disadvantage with our trading partners, in areas like energy, taxes and regulatory compliance. So we need to focus on cutting those -- all imposed by Washington. But while we're at it, it occurs that the number one cost -- at a whopping 2% of our GDP -- is tort costs. At 2% of $13 trillion, that would come to (check our math) about $260 billion. So just look at this chart of countries arranged by the size of their GDP. That would be the 29th largest GDP in the world, larger than the GDP of South Africa.

They really don't have tort costs like that in China, so maybe we need to start exporting lawyers there so they can start to pump up China's costs even more. That'll fix 'em.....