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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (65622)	7/8/2006 4:28:54 PM
From: GST	Read Replies (1) \| Respond to of 110194

<Jobs created in China at the expense of jobs created in the US> That makes no more sense than saying jobs created in California are at the expense of jobs created in New York.

To: mishedlo who wrote (65622)	7/9/2006 9:54:45 AM
From: arun gera	Read Replies (2) \| Respond to of 110194

>Jobs created in China at the expense of jobs created in the US does the US no good.> Is it a zero sum game? Manhattan is very expensive for commercial real estate. So Citigroup moves its backoffice staff to New Jersey. Does it mean Manhattan is doomed? After all Manhattan has lost jobs to New Jersey. And New Jersey will lose some to Atlanta. Recent surveys indicate increasing number of corporate headoffices have moved to New York city. More and more areas of the city - Harlem, Brooklyn, and Bronx - are getting revived. Within US, it is easy to imagine that New York's loss of jobs in industries that New York is not competitive in is made up by increase in jobs that New York is more competitive in. Wall Street, Madison Street, and Fashion Street suck small percentage of money from all americans (and other global participants), a chunk of which flows into the New York tristate area economy. Similarly, migrating jobs from USA to China and India is creating more demand in those countries. This is starting to create jobs in different parts of the world in the mining industries. Boeing has a huge backlog of orders. And less than 0.1 percent of Indians and Chinese travel domestically by air. So many software jobs have been migrated to India that there is a shortage of good project managers in India. This is resulting in Project Managers making nearly as much as their counterparts in USA in dollars. I am hearing that some US companies are training their US managers, who now appear reasonably priced, to travel to India and work their to transition their projects. In India, big cities have run out of good raw material in human resources terms. They are moving to smaller cities. Mumbai is outsourcing to Cochin, a city in Kerala. Cochin is pulling in the smart ones in Kerala from even smaller towns. And so it continues. -Arun