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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: gpowell who wrote (17171)2/13/2004 4:19:20 AM
From: Amy JRead Replies (2) of 306849
 
gpowell, RE: "We can all see the jobs lost to foreign competition, but it should be just as obvious that the number of jobs and choices have expanded through increased resource use efficiency. The evidence is everywhere"

Do you have concrete examples? ( This is asked with curiosity.)

Different companies have different reasons for offshoring. Some multinationals do it because to win overseas you must move there to build relationships early in order to win the contracts. You also have to do it, to understand the foreign market's technology and customer requirements in order to win an overseas contract. This is not offshoring, but is an opening of a foreign remote site in order to successfully conduct business in a growing foreign country whose market surpasses the USA.

But other firms do it because a particular sector is mature and is better suited overseas. This is offshoring. No different than auto assemblies and textiles.

And then there are others that do it because Stanford college students (with no experience) wanted $105k out of the gate during challenging economic times.

It's impossible to put all the reasons in the same bucket because each corporation has its own reason for offshoring that's specific to their business and market. The reasons are not the same and are wildly different.

On another note, after reading the article about the person sewing 1200 shirt sleeves per day, at what future point do you think a global minimum wage can be created to foster a better lifestyle for international workers? (Yes, I already know creating a global minimum wage would create a huge loss of jobs and will increase prostitution and other seedy exploitive businesses, but at some future point the system will be able to tolerate a global min wage, but at what stage?) When do you think it'll be possible to create a global min wage? 15 years? 25 years? or 50 years? Does creating a global min wage first require parity to be achieved, so the risk to the global economy is minimal and not worse than the original problem? What are the dependencies and risks?

When does a person know when the system can handle a global min wage without taking the entire system down?

Another question: I understand floating currency of a developing country would create spiraling inflation that could spread to the USA and create global economic damage. But does creating a global min wage create a similar issue? I sort of doubt it. What is the risk? I assume it creates higher unemployment and am wondering what else?

Regards,
Amy J
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