Reply To: Cathedrals of Commerce
Outsourcing, the big issue in States.
Click: Anyhow, if you care to wander over to the Americas now, a post which got an interesting response, about Jobs, outsourcing, presidential elections etc, etc, etc.
Just avoid the ‘Norm’ Chomsky bit . . 🙂
Good post here:
Well i think one of the reasons this is big news during this election is because the economy has come back strong but the jobs are not coming with it. Common scapegoat is outsourcing. I cant say it isnt a factor but I cant imagine we have shipped off 10 million jobs in 3 years. Not impossible I suppose but I cant imagine it.
If the jobs start to come around then this issue will be moot.
Dunno what economics is about, but this paragraph gives you some idea, how global the whole thing really has become.
China and Japan are holding the price of the $ up with tons of buying of the $ and in the case of china, pinning the currency to the $. China’s banking system is not yet good enough to handle a floating currency. Regardless, China is growing too fast right now to be sustained. Within a few years they will be forced to change their exchange rate with the $ one way or another.