Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (66736)	12/19/2004 10:26:36 AM
From: RetiredNow	Read Replies (2) \| Respond to of 77400

LOL. Well, Amy, some people refuse to believe China is a threat. I don't understand why. For instance, Elroy and I had a debate about how the U.S. will lose many high paying jobs to China. He responded to my assertion with facts about the average wage in China being much less than the U.S. Well, the other side of the coin are U.S. multinationals that are doing big business in China. Who do you suppose are making the most money? It's the people who are bilingual, speaking Mandarin and English. And who do you suppose are those people? They are for the most part Chinese immigrants who are U.S. educated. However, instead of making their money in the U.S. and spending it here as well, they get hired by a multinational to go back to China, where they spend their earnings there. A friend of mine recently left the U.S. to go to China for this very reason. She is earning $250K U.S. dollars. A large multinational is paying her this much because she's fluent in English and Mandarin. What's funny, is that she does what I do, but I make less than that. The only difference is location and her Mandarin skills. So don't tell me that the U.S. isn't on the losing end of China's trade policies. I'm seeing very highly skilled, very highly paid people moving to China, and they are getting pay INCREASES to go there. Maybe the factory workers aren't paid squat, but bilingual management is paid a nice tidy sum, and management skills are usually first acquired right here in the U.S. at U.S. universities. Oh and btw, that friend of mine is a U.S. citizen who had less incentive to leave than a Chinese-born immigrant. Think about that for a second. If American multinationals can lure American citizens to China, how much easier will it be to lure Chinese-born immigrants back to China? That giant sucking sound you're going to hear in the next decade will be many of the high paying tech jobs being sucked into China. No amount of denial will change that trend.