|
PureBytes Links
Trading Reference Links
|
Amen to this comment.
This export of jobs has been largely overlooked as long as it was limited to
lower level -- blue collar -- manufacturing workers. But now it is the
service sector, and there are even the beginnings of
professional/engineering positions being exported.
If we don't wake up to the problem, the future is bleak for our children.
In theory, this export of jobs would be self-limited by the rising standards
of living and wages in the recipient countries. But there are more than
enough impoverished areas (and populations) of the world to keep this
limiting effect from really happening anytime in the foreseeable future.
Just look at Taiwan and Shanghai. At one time the semiconductor industry
could save costs by moving to Taiwan. Then China was "discovered".
Business Week recently ran an article about the growth of China, and therein
described the new movement of manufacturing to inland China, from the
coasts, again to reduce labor costs! What shipwrecks of factories and
organizations are left behind was not discussed, but there clearly must be
some loss.
Of course, we can just have displaced workers all over the world trade
futures -- that will certainly provide value for all and help feed the
masses! And just think of all the computers they will need. A new tech
boom is born -- for the new Mongolian PC makers.
----- Original Message -----
From: "EarlA" <earl.a@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, February 24, 2003 5:34 PM
Subject: Re: [RT] Oil stats
> America, at one time, drew most of it's economic power from a robust and
> dynamic manufacturing industry. Then half of America's manufacturing was
> exported to countries with cheap labor. American workers were laid off by
> the millions but that was great because American consumers could buy cheap
> goods and were busy building a service economy. Now American service
> businesses are being shipped off to India, Pakistan, and Philippines.
>
> Boil it all down and you have one thing left at which American's are
> indisputably tops ... consuming most of what the world produces. This is
> indisputably proven by the huge trade deficits the US has been racking up
> for years now. The global conglomerates are in hog heaven and could care
> less who works and who does not as long as they can hire the world's
> cheapest labor. I remember when Mexico was cheap so they all shut US
> factories and moved them across the border. Now they are shutting the
> Mexican factories and moving them to China.
>
> Eventually, American (and European) workers will have the choice of doing
> without jobs or competing with third world wages. In short, rather than
> raising everyone's standard of living to that of the best labor markets,
we
> are busy lowering the standard of living to that of the cheapest labor
> markets. This of course, will be just wonderful for the American (and
> European) economies! Not!
>
> Globalization works, and works well, when import/export trade is in
balance
> between countries because it means that each country is doing what it does
> best. It is predatory when it is out of balance. It seems that consumers
and
> the politicians who represent them are all blind to the longer term
> implications of unrestricted globalization with 5% annual trade deficits.
I
> expect to see a replay of Smoot-Hawley before this decade is out.
>
> Earl
>
> ----- Original Message -----
> From: "Kent Rollins" <kentr@xxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, February 24, 2003 11:57 AM
> Subject: Re: [RT] Oil stats
>
>
> The "Buy American" movement is having a similar effect on China's ability
to
> sell goods into our markets. This plan makes about as much sense as the
> move a few years ago to pick one day on which everyone would refuse to buy
> gas.
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|