CNBC -- critique. Message Board

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Pastimes : CNBC -- critique.

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To: Dan B. who wrote (12650)	11/28/2003 11:09:35 AM
From: Lizzie Tudor	Read Replies (1) of 17683

your post on trade seems a little naive to me. If you want to look at an industry that has experienced the effects of free trade for years, look at athletic apparel and shoes. The factory workers that produce nikes are not better off... the people that buy nikes are not better off (shoes are still $100).... the only set of people whose lives have improved are a few people at the top of Nike. That is what we are seeing across the board today in US industries which is why we have an 8% GDP and large unemployment. Nike, in and of itself cannot create a banana republic but if 50% of the corporations in the US adopt Nikes trade policies then that is exactly what we will have. One mitigating factor is that some companies have misfired in their aim to be the next Nike with rich executives and workers paid like epsilons, that is Oracle corp. Even in a bull market, Oracle is a short. Customers caught on to Oracle's quality and responsiveness issues which are a symptom of thier Indian headquarters and now Oracle is being dumped. Maybe they will become the poster child for a company that over offshored.

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