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To: Mark Adams who wrote (161067)	4/20/2002 2:03:43 AM
From: S. maltophilia	Respond to of 436258

<< what about Europe? Are they not subject to the same deflationary forces with respect to the cost of labor? Japan already migrates industrial production offshore.>> Europeans may see the same pressures as well. A couple of wild cards here: Southern Eurozone countries (and future members with cheaper labor. And what if some genius in the Middle East starts pricing petroleum in Euros as a political gesture? <<isn't it really just sharing the work with our fellow (global) citizens?>> In the long run, a good and necessary idea; but start agitating for third world unionization. <<We can find other work, usually in the services sector from what I understand, which is less subject to overseas competition. When was the last time you went to SE Asia to get a haircut, or visit a spa?> I doubt that a service sector alone can sustain an economy. And more and more services are being shipped overseas. The call you make to get someone in tech support may well be answered in India; maybe next year someone will market a service to cities to answer 911 calls in the language of the caller's choice. Those of us who are left working for good pay will find that there are more folks offering services cheaper, and there will be fewer people able to afford the price. BTW, you can get a haircut for $1-2, and an hour's massage for $5 in SE Asia, which works out about the same as here in the U.S. in terms of what an hour's labor will buy. I have yet to decide in my own mind whether to expect inflation or deflation. There are too many factors on both sides to consider, and we've only brought up a few. I do, however anticipate some interesting times.