We are pretty lucky and that's the problem to some degree, we all get payed too much money, so we can buy stuff made overseas, like ipods, cars and crap.
Most people still spend more than they earn or can afford, and to keep up we have to pay our workers too much money, but no one wants to pay.
It's a vicious circle. Where as in China everything is cheap especially labour, went to buy a fuel pump the other day at Repco and the guy wanted $340, exact same fuel pump on ebay straight from China, brand new in the same box, $60 plus $15 postage. So China got my $$