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To: shades who wrote (37664)	8/12/2005 12:49:20 AM
From: GraceZ	Read Replies (2) \| Respond to of 306849

they are going to be the higher order goods producers of the very near future Yes, but by then we'll be onto the next order. So what Chinese biotech companies should I be looking at? How about drug companies using nano particles for drug delivery? Any Chinese medical device companies that pique your interest? What companies are on the cutting edge of micro-surgury tools? Protein targeting drugs? Whose got a portable artificial heart in the works? What do they have for automated drug discovery? Who's the Chinese AutoDesk? They don't need to develop these things because we already have, it would be just as big a waste of resources to try to compete with us and Europe in these areas as it would be for us to try to compete with them in manufacturing stuff. Better to use the considerable income they get from manufacturing stuff to buy our higher order goods.

To: shades who wrote (37664)	8/12/2005 12:50:00 AM
From: tsigprofit	Read Replies (1) \| Respond to of 306849

Good post. That was they way it was SUPPOSED to work - or so we were told in the 80s, as you point out. The US doesn't need or care if we lost some manufacturing, textiles, shoes, clothing, etc. - who cares? We will be the KNOWLEDGE workers. We will make software, do biotech - research - the smart stuff. So get your Computer Science degree, etc. and you are set. Until around 2000-2001. Nobody talked about outsourcing those same jobs now to China/India. I don't blame them - they are trying to make a buck too. But what happens when the US is noncompetitive in manufacturing, and we let other countries increasingly do software, make the computer hardware, do more biotech, engineering, etc. What do we do here? Looks like build and sell homes to each other - and sell retail goods made somewhere else. Oh - and banking - good to loan each other money we don't have to buy all those things..