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Strategies & Market Trends : Asia Forum
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To: k.ramesh who wrote (1747)1/29/1998 10:44:00 PM
From: Stitch  Read Replies (2) of 9980
 
Ramesh,

FWIW I don't think any apologies are neccessary for your Pier 1 comment. I understood perfectly your point and felt there was no hint at elitism behind your comment. Fact is that a major challenge for the Asian economies is how to best climb the value added chain from low cost labor model to inventiveness and creativity. It is where competition is the fiercest. The fact that step one is/was to trade on low cost labor, producing anything from baskets to fully assembled automobiles and disk drives, is obvious. But the new emphasis must be on engineering and fundamental research and development as these economies mature towards 100% employment. No one can deny the value that Singapore, Taiwan, and Japan had by deploying a large body of workers. But ultimately the playing field shifts. Already I see company departures from Malaysia ever seeking lower cost labor, such as the Phillips consumer electronics plant in Penang which shut down in 1987. Seagate Technologies doesnt plan to expand (once the current contraction is over) in Malaysia or Singapore much more except to bolster egional engineering capabilities. Their labor intensive operations are moving to China and the Philippines. Thats why developments like the Multi Media Super Corridor are so important to Malaysia.

Best,
Stitch
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