Originally posted by: Engineer
1)Just curious..since I don't recall what you've posted before. Exactly what type of jobs are going to be replacing these jobs?
2)Does the trade deficit not matter (as many believe the budget deficit doesn't matter)?
3)If the trade deficit doesn't matter, what about the negative flow of money/capital as a result?
4)What about the US losing it's edge in science and technology ( as articles above indicate)?
5)Technology services going to be the future? It will go the way of manufacturing on it's way to US extinction.
6)The only people to benefit long term from this are typcially upper class people owing the corporations. The lower and middle class will be pushed lower as their livelyhoods are sent to India, China, etc.
1)Service jobs will replace the manufacturing jobs. If you look at current numbers: farming, manufacturing, forestry, mining make up only 25% of the US economy. This conversion has been happening for decades...you act as though this is a *new* thing. The US economy is very versitile, it will shine even with the reduced workforce. (ie. consolidation of domestic plants and offshoring)
2)Trade deficit does matter, but in the whole scheme of things, the US economy grows almost as fast as the deficit and is actually overtaking the deficit with the lower US dollar. The deficit isn't a huge concern at the moment with the impressive growth the US is experiencing (3% GDP growth a year). As for budget deficit, this is a whole other topic; i have no idea why you have brought this up. Maybe because of similar words?...I have no idea.
3)US is not losing its edge in science and technology. It is still by far the leader and Europe is lagging significantly. As for asia, good for them, they are in the technology development stage that the US experienced many decades ago. To compare an average engineer/technician in US to one in China is a moot point.
4)Technology services will be the next core employer. What you fail to see is that all these sectors exist in the US economy, and are thriving. It is just costing less to make and the final stages of the value stream continue to be in the US. Fact is, most of the money is to be made closer to the consumer, and the US is doing very well at maintaining this profitability divide.
5)The upper class has always benifited, i want you to show me a time where they haven't. This is not surprising, the lower and middle class will continue to thrive as the rich require services and products from the middle class and similarily the middle class from the lower class. If you think the lower class is more poor than it once was...you need to dig into your history books. Look at the number of peasants and people who took roles as slaves for the rich of the past.
I don't know what to say Engineer...this issue has followed man throughout his existance.
This is not a bad thing, at least take satisfaction in the idea that what we cannot do efficiently and competitively is being filled by those who can. If down the road i lose my job to 5 people in india that can do it better than me; I have to accept it. Am I scared?...no, the 1st world's economies have been able to withstand this shift and even with a small 25% manufacturing/mining jobs; we still have 5-7% unemployment.
If you somehow think the manufacturing jobs somehow demand higher wages, you are confusing yourself with the power of unions and wage increases of older companies. Technically you don't need to be any more smart to push buttons in a plant relative to pushing buttons at McD's. How is one more benifitial to society?
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