hindustantimes.com
Major British banks plan to shift upto 2 lakh jobs to India
HS Rao (PTI)
London, June 8
Notwithstanding opposition from various quarters over outsourcing to India, major British banks and insurance companies are planning to shift upto two lakh administrative, processing and clerical jobs to India, a leading recruitment agency said.
With the global economy there is a world wide distribution of jobs in this 2 lakh is roughly 200,000 jobs that UK does not want to lose.
It is utterly impossible to assume that one nation will be able to offer any prime product to the world. Labor costs will determine growth. Costs in mature nations are high for the competitive world of business, solution is always less costs.
During this time whose currency is the question. The Uk will forgo the Euro as the German Stock market moves upward this includes Euro leverage but their inner unemployment increases. All mature economies attempt to stimulate with interest rates yet, there is utterly no flexibility in costs of operations in these economies as cost are set and must move higher so debt and people can be serviced.
In the mean time to make matters worse here in the US we war for wage inflation.
In what has become the national "model" for wage activists, Santa Fe is imposing an $8.50 per hour "living wage" on all businesses with 25 or more employees -- the highest nationwide, and the only one of its kind to impact so extensively private industry. This is the work of union-funded labor activists who have been pushing the living wage concept on dozens of U.S. cities.
Their success is rampant: nearly 100 U.S. cities have passed living wage laws since 1996 and their pace is accelerating; however, most, if not all of these, specifically apply to companies that do business with local government.
As the world changes into a Global community areas will increase in both size and wealth as other areas face decrease. The process has been up to now very slow. The FED is attempting to create jobs here via rates while costs are stating others areas offer more value in the labor market.
To me our situation as well as all mature nations from a financial point could in the next twenty years be one where tax funds are not going to meet the debt load. From a social aspect people living under tight security means limited free. From a currency point this will amount to massive sways in my opinion.
OPEC has recently decided to maintain oil in US dollars. Yet there is obviously some question of the dollar or the decision would not of been made.
If debt is extensive it means we cannot have wage deflation for if the free market changed the value or lowered wages we would be putting our government and numerous people into default. If India and others in Asia start to increases in jobs obviously their economies will pick up. The total costs are lower as they do not include the our cost of high security to safe guard people. This a huge cost factor to large companies as they must follow all safety procedures associated with an alert. It amounts to one Laden and a blow to the internal finance of the US that has done more harm than anyone could of possibly dreamt it would do.
To me it is clearly time to look beyond theory and visually inspect the changes in landscape world. World is in the process of self business balance. The free market is totally operationally as it revalues opportunity in terms of dollars and debt. Calif past projections included vast high tech and tele sales growth, the theory was wrong.
New jobs create growth which stimulate the whole of the locale. We all know the face of the world is now in the process of change but to weather that change is going to require cost curtailment on the part of all mature nations. When wages are set the market cannot self correct it is not only impossible wage wise but it puts government debt at risk. The self correct cannot come in the form of reduced wages so the correction becomes a decrease in corporate jobs.
The decrease in corporation jobs increases small business. One must always remember small business does not have as high an income level the largest leverage in small business has is competitive pricing ability. The budget of any nation that is over extended in the free market called world is really putting itself at risk. .
If our market is moving up somwwhere in here is also a tie to our dollars. If we increase in value on one end we decrease in value on the dollar end for those who invest in US. |
