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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Amy J who wrote (16590)2/3/2004 8:48:27 AM
From: Wyätt GwyönRead Replies (3) of 306849
 
would you prefer to be competitive to China, or not?

there's no way the US can be competitive with China or India. with wage differentials exceeding an order of magnitude, the stretch is too big.

whatever your job is, if you are a knowledge worker, there is a 70% probability that there is somebody in India who can do the job just as well for less than 15% of what you make. and chances are, more and more of these people will get the opportunity to displace American workers as business processes are outsourced.

that doesn't mean protectionism is the answer. (although one can expect to hear a lot of protectionist drumbeating during the election campaign season.) the answer is massive deflation and bankruptcies and depression in America. just watch.
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