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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 362.32

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Nov 4 4:00 PM EST

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To: GPS Info who wrote (98483)	2/2/2013 3:33:02 PM
From: Maurice Winn	1 Recommendation Read Replies (1) of 217542

The solution to the "problem" is called a market. A company that is no longer competitive because they cannot hire low-paid people can go out of business and the owners/managers get jobs more suited to their talents. 27 years ago I was advocating that BP Oil International set up R&D and education in China to hire IQ 170 girls and boys who were wasting their days away in the hutongs and paddies and teach them the things they'd need to know to join BP. Now, I own Qualcomm and we are hiring lots of people in China to work on mobile Cyberspace development. I'm sure our employees like working for Qualcomm a lot more than assembling millions of soft toys in a sweat house. Too bad for the sweat house company. BP was paying 50 pounds an hour to the BP R&D centre in Sunbury [internal accounting but real costs just the same] and about 60 to Deutsche BP to do similar work. A group of Made in China researchers could be hired for the same price and their brain power would be 100 times that of the Euros [there being so many underemployed people available in China]. <The question for me is how to get unskilled labor educated within a supportive social structure to justify higher wages.> People who want to hire them can educate them. Their parents can educate them. Companies will pay scholarships to talented people to get educated. Student loans from companies would fund poor people with talent. <I think that the underlying assumption is that that was the only way that China progressed to this point was by using cheap labor to export cheap products. The other side of the assumption is that they will have much harder time paying high wages and exporting expensive products. > Not so hard. Huawei is booming. So is ZTE. Taiwan Semiconductor is enormous. People who lack much talent or skill can work for the employees of those companies cleaning their houses, fixing their cars, driving vans, and generally assisting. Huawei hires Brazilians to help install fibre in Angola. China is going global. My capital is hiring a lot of people in China. 100 years ago, one of my grandfathers lived in China and used British capital to hire lots of people in China. My mother was born in China. But it all went bad, Japan invaded, then Mao took over with half a century of carnage and communism. To complete the globalisation process, my grandson was born in London a couple of years ago [half Chinese], the first of all descendants to be born back in the UK. It's a fun world unless the Big Government people take over and start bossing people around, invading and murdering. If the governments will get out of the way, you will find your problems are easily solved. Mqurice

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