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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: J. P. who wrote (17751)2/24/2004 8:02:39 AM
From: Elroy JetsonRead Replies (2) of 306849
 
The danger in manufacturing and service industries leaving the country, both lower tech and the higher tech still to come, is not the loss of the immediate jobs - however hard that may be.

The real risk is the loss of the business and thus all future jobs related to it. Andy Grove of Intel has discussed this. Many nations do not respect property rights in any form, and others do so only intermittently. China is a glaring example, but India has taken American businesses in the past.

There is a lot of fancy talk about the benefits of world trade and those benefits do exist. But off-shoring businesses comes with risks which do not exit in normal world trade.

Long lists of Businesses have off-shored plants with the expectation of larger markets and lower costs. Yet the result has repeatedly been a transfer of technology to the off-shore partner which becomes a competitor without compensation for patents or copyrights.

Many American business are run by people whose short-term interests are not aligned with their shareholders or their country.

This is another area where I admire practices in Australia. Critical and proprietary work is always done in Australia while other work has been off-shored for years.

It amazes me that there, in spite of the occasional magazine article, that there is such a low level of recognition of this problem. Maybe it's just due to the naive American trait which always expects the best of others and expects things to always work out for the best - like in the movies.

Many would argue that the solution is an emphasis on R&D, but the U.S. increasingly finds R&D an uneconomic pursuit. Not surprising when billions of R&D can be casually and quickly given away to an alleged partner in return for nothing.
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