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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (1440)3/7/2004 1:24:54 PM
From: chip  Read Replies (1) of 116555
 
The article does present a possible silver lining from offshoring, though:

Whether this global interaction leads to a net gain or loss for the Bay Area remains to be seen. In the eyes of the UC Berkeley researchers, the factor that will determine whether the Bay Area decays into the next Flint, Mich., or rises to ever greater heights depends on one thing: innovation.

"Silicon Valley has always been on top of the technology food chain," Kroll said. "It's always managed to stay one step ahead."

If this region stays on the cusp of innovation, the theory goes, new industries will be invented here, and because of Silicon Valley's unique cross- pollination of businesses, venture capitalists and talented workers, even ideas born in other places will be nurtured into moneymaking concerns here. These new industries will create new, high-paying jobs locally, at least in the early years.
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