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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: Bobby Yellin who wrote (4791)	12/26/1997 10:50:00 AM
From: The Vet	Read Replies (2) of 116753

Bobby, I have spent some time in Hong Kong and the surrounding countries and I have a feel for the business and work environment. What everyone must realise is that there is no social security or support for those people. They MUST work in order to live and once an economic melt down occurs the price of their labour simply drops until they get a job just to eat. Hong Kong unemployment levels have been under 2% for most of the last decade and anything higher than that is considered a major slump. What is different now is that with the higher levels of education and skills that they now have we will end up having a supply of highly skilled labour on the market at coolie pay rates. It will be interesting to see how the US service sector can compete when the multi-nationals realise that they can provide the same skills out of Asia for a fraction of the wages and overheads they are now paying in North America..

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