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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: wonk who wrote (54260)	3/17/2008 6:22:59 PM
From: Katelew	Read Replies (1) \| Respond to of 543579

People confuse GDP with national personal wealth. The components of a product might be manufactured overseas and then sent back for assembly by low wage individuals and robots. The value of the finished product is added to GDP, but much of the wages in the product went to folks in other countries. I think something like 76% of Boeing's new Dreamliner airplane is built by foreign companies and in foreign countries....no American workers.

To: wonk who wrote (54260)	3/17/2008 6:26:52 PM
From: TimF	Read Replies (1) \| Respond to of 543579

Manufacturing is being outsourced to China. That's a commonly believed myth. The fact is that almost every year the US sets new records in manufacturing, and it produces a lot more value from manufacturing than China does. IT and software are being outsourced to India. Sure India gets outsourcing contracts, but to an even greater extent than with manufacturing IT and software grows each year in the US.