International Trade and Wealth (pt. 6)
There has been a lot of whineing lately in the USA about all the jobs that have gone to China and India. Unemployement is the worst in a long time (5%). Many people blame international trade and globalization. These things are here to stay. Blaming them for our ills is like blaming the rain for the effects of a leaky roof.
China is taking manufacturing jobs. Not all but most or them at the lower end of the pay scale. The jobs that are left in that category are the source of much of our illegal immigration problems. The USA is getting an influx of manufacturing jobs from Germany and the UK because wages are so high there.
India is taking IT and customer service jobs. We are losing those jobs as much because of our educational systems here as because of lower costs. Many of these jobs require technical abilities our people don’t have. The people who do have the skills for these jobs are employed at much higher wages than that type of work would pay here. Importing and Outsourcing enable those who do have a job to live better more cheaply. This is really important in a society where 80% of the population is making less than they were 8 years ago.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment