The rapid growth of the Asian economy, with its huge low cost manufacturing base, liberal government outlook to foreign direct investment, and a rapidly growing asian middle class have created a lot of interest and unrest not to mention been blamed for stealing American Jobs.
This allegation has been proven to a certain extent, how ever the unsung fact is that more efforts have been made to retain the skilled labor available in the U.S as the U.S finds its self in a position of having to provide the world with innovative and new products and services to stay ahead of the other world economies. The average pay for skilled and knowledge workers in the U.S has risen between 2 to 5 percent in the last 2 years.
The only way for America to compete with the low cost good quality products from Asia is to invent winning global products. This is some thing which America has proved its self capable of. The development of such winning products and services will calls for increased investment in the countries skilled and knowledge worker pool, thus making America still the best place to work.
Your view on this idea?? please voice your opinion...post a comment.
posted by Arun at 10:22 AM
2 Comments:
I disagree. The growth factor for the Asian economies is infact the US companies. If you see, all the major invenstments in Asia have been from American MNCs. And the work that is being done in Asia is the mundane low-tiered work. The cutting edge *knowledge* and Intellectual Properties still are in the US. Its just a simple case of the Managers being on one side of the globe and the *worker ants* on the other. Although this has generated significant activity in the Asian stock markets, this is not anything these countries can lay a foundation on. If Asia has to improve, they must have their own companies INVENT winning global products, rather than support or produce the ideas of the thinkers in the US!
EDIT: I mean, I agree :-)
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