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To: Amy J who wrote (176318)	12/30/2003 6:31:24 AM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Amy, re: It's drastically different than before. Only in the details, not in the concept. Improvements in communications and transportation of goods allowed manufacturing of textiles to move overseas. Improvements in communications and transportation of data is allowing tech production to move overseas. I don't know what you could have done about the textile jobs, and I don't know what you do about the tech jobs. Production will find it's way to the low cost producer when the cost of transportation is not a barrier. But my original point was that the pain was just as significant to the folks that lost jobs in the Carolinas as it is to the folks losing jobs in SV. Maybe more. John

To: Amy J who wrote (176318)	12/30/2003 11:49:36 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 186894

People like Stephen Roach saw this, way before anyone else seemed to see it. Yes Roach was the first to figure out the GDP was due to offshoring of labor intensive jobs, leaving only "management types". I am expecting a GDP close to 10% in 04, seriously with more unemployment. At some point, the feds will tweak the number in some way, or qualify it so that we all know what we are looking at. The 7% GDP numbers a few months ago caused retailers to overstock for the holidays imho.