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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (1927)	11/12/2005 3:15:06 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 217836

ElM, it's a competitive market, so people can only get what they market will bear. Countries can't just raise their price as there's somewhere else to work for less: <Same with countries. They were subsidizing the more developed countries until they discovered their real value. Now they are going for it.> But, once the pool of cheap people is used up, after having been kept prisoner in India and China and elsewhere for decades, their price will rapidly rise, as it did in Japan, Korea, Singapore, Hong Kong. Don't forget, it's not just exporters competing for the cheap workers, local demand is competing for them too. So I don't think Germans and others will enjoy cheap foreign workers for many decades. When capital can flow and goods can too, things soon balance. Irwin Jacobs of QUALCOMM was saying recently that at present they have 200 people working in Hyderabad and they are limited by the supply of good quality people. So as people become available, they'll be snapped up by swarms of foreign companies needing their services. <Then it is going to be tough for those who have been subsidized. Just ask my former colleagues in Germany.> The individuals who had labour-law protected markets will come a gutser when competition finally arrives. But overall, Germany will be far better off with Chinese working for them for little, instead of Germans working for them for a lot. The losers are those who lose their monopolies. Good riddance. It is an excellent thing to have Indians, Chinese, Indonesians, Russians etc getting wealthy by producing things people want to buy and ditching the old ways. It's nuts to think "they are taking our jobs". People don't "own" jobs, though that's a common idea in some countries, such as NZ, which has been going down the gurgler for decades [relatively though not in absolute terms]. Mqurice