It's the economy?

[aphid 0]

I have no reason to doubt the veracity of this statement found in an OpEd piece from the Globe and Mail. And if it's accurate, we (I include Canuckians as contributors to this issue, although in a more modest way) are truly reaping what we have sowed.

(Disclaimer: I take no stand on the right/left of the politics of this. I just found the information... distressing)

From the piece:

"American companies are creating millions of jobs. The trouble is, they’re not in America, which is an increasingly uncompetitive place to do business. The biggest manufacturer of electronic goods in the world is the Taiwanese-based giant Foxconn. It employs nearly a million people – that’s more than the worldwide work forces of Apple, Dell, Microsoft, Hewlett-Packard, Intel and Sony combined."

Full item at: http://www.theglobeandmail.com/news/opinions/opinion/debt-ceiling-chicken-and-the-end-of-empire/article2114682/

[Andy9o8 2]

Quote

It's the economy?

I think the full quote is, "It's the economy, stupid."

And there we have it.

[nigel99 619]

It is a very interesting debate and goes to the heart of a global economy and the direction the world has taken for the past 60 years.

Firstly in the west people desire cheap goods. They feel that TV, iPads, phones and the like are a basic right and almost everyone over 10 years old expects to own these toys.

Secondly most people want to see workers in developing countries paid more and treated better, but this would raise the cost of the goods they desire.

Third point. Most workers in a developing nation are harder working and less demanding than western counterparts.

I believe eventually it will come full circle and the "give me" nature of the west will come crashing down. The current model is unsustainable. We will get deeper into debt, other nations won't and they will succeed us as the successful nations.

We are already seeing 1st world countries requiring aid to keep them afloat (European debt crisis). I wonder how many decades it will be before the US and UK join the ranks.

Experienced jumper - someone who has made mistakes more often than I have and lived.

[winsor 236]

Quote

It is a very interesting debate and goes to the heart of a global economy and the direction the world has taken for the past 60 years.

Firstly in the west people desire cheap goods. They feel that TV, iPads, phones and the like are a basic right and almost everyone over 10 years old expects to own these toys.

Secondly most people want to see workers in developing countries paid more and treated better, but this would raise the cost of the goods they desire.

Third point. Most workers in a developing nation are harder working and less demanding than western counterparts.

I believe eventually it will come full circle and the "give me" nature of the west will come crashing down. The current model is unsustainable. We will get deeper into debt, other nations won't and they will succeed us as the successful nations.

We are already seeing 1st world countries requiring aid to keep them afloat (European debt crisis). I wonder how many decades it will be before the US and UK join the ranks.

It's about to come apart at the seams.

It was fun while it lasted.