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To: Elroy who wrote (66631)	11/29/2004 7:33:02 PM
From: RetiredNow	Read Replies (2) \| Respond to of 77397

Actually, that is simply not true. China is not just full of low income wage earners. They are adding 350 THOUSAND engineers per year to their civilian work force. The U.S. by comparison is experiencing fewer engineering graduates each year as employment prospects for them in the U.S. have dimmed. Chinese engineers are just as good as ours in the U.S. Many companies are shifting R&D over to China. What we are going to experience is foreigners simply will go to China for the good jobs. So all those immigrants, Indians and Chinese, that use to flock to the U.S. will not be coming here because they will be able to make more in China eventually. In addition, engineering jobs will continue to shrink in salary and in number within the U.S. This is a long term trend and it will intensify as the Chinese economy ascends. This will continue until wages and the supply of engineers reaches equilibrium in both countries. The net effect will be a lowering of the standard of living in the U.S. offset by an increase in the standard of living in China. The question now is not if, but when, will this happen. I say it is already happening and we can expect more of the same for the next 20 years at least.