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Originally Posted by Steve K
When countries like China suddenly have money to spend on infrastructure and modernization where are they going to turn? Probably to the US.
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But China is now developing the tools and internal knowledge to do this on their own so while they will reap some of the harvest of the immediate in the jobs growth they will also be able to fuel much of what they need in the future on their own. Now even if they do buy services from us, how many Americans can be employed in the service industries that will be supported by money coming back in from China? Network Infrastructure? They have ripped off half of Cisco. PC Systems? They bought IBMs PC division. Granted - we ave them beat in software so if you work for Oracle you are probably OK. Operating systems? They're learing Linux
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The sending of jobs overseas is going to continue as long as there is an imbalance between the wages of countries. When China becomes too expensive, then the lost cost manufacturing jobs will be sent elsewhere.
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All of our manufacturing jobs and those of Europe combined cannot employ the vast base of labor China has on the cheap. And if enough did, what is to say that they will buy from Boeing for 10% more than a subsidized product from Airbus? Not to mention that China is spending big bucks on developing aircraft systems (for example) on their own
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This is not a topic that can be easily discussed in few paragraphs but I hope that you understand what I mean.
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Agreed
I just fear that the middle class as we have traditionally known it is going to falter. Not enough internal jobs of sufficient quality to keep Americans employed. When Dell ships several thousand call center jobs (services
is that next? )to India and Pakistan and release thousands of marginally skilled people, - where are they to work? What square peg do they occupy in the pyramid of American jobs? When they are asking about your desire for fries or apple pie, where has their contribution into the economy gone? They can no longer afford to purchase the
services that are the new underpinning of the American economy...
Now once all the "Services" jobs go over to these countries that have developed beyond manufacturing, what's next?