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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (52960)	2/7/2006 9:32:21 PM
From: dipanjanc	Read Replies (3) of 110194

I agree. On a purchasing power parity basis, this has already started to happen for senior technical and mid-level managerial jobs in the tech industry, particularly in bay area where I live. A lot of my friends are heading back to Bangalore and Hyderabad after being here in US for years, sometimes decades. The assets they acquired by selling overpriced houses and stocks will buy them a lot more goodies and more importantly services in India (or China) than here. Even those who missed out on the stock/housing bubble are getting decent enough salaries back in India so that they will have at least a comparable standard of living back in India, on a purchasing power parity basis. Opportunities arising out of globalization and the immigration hassles have also, slowly but surely, been reducing the attraction of USA as a destination for top Indian science and engineering graduates. For returning NRIs(non-resident Indians), the current preference is to work for Indian subsidiaries of American corporations. Outsourcing is good for corporate bottom lines and benefits shareholders and executives - not mutually exclusive groups. So it is inevitable. The immediate problem for US is that its economy is missing out on the new jobs and wages. Only a very small percentage of Americans will be able to invest and profit from these changes caused by globalization. The longer-term and the more important problem is eventually those Indians (and Chinese) will start their own ventures and there will not be enough Americans technically skilled, qualified and experienced to compete with them - particularly when most of the new demand will be generated outside USA.

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