Maybe they are the ones that are going to be the leaders in areas we've seen as our areas of expertise. And if they prove to be, is there still a possibility that we can continue with our high-spending lifestyle?
Sure would be nice to see some sources for all this stuff you're saying.Jobs in the US and parts of europe have been artificially high for the last decade to 15 years or so through bubble economics and high levels of government spending ensuring a temporary high living standard for those living in the so called west. Without the competition by cheaper asian labour, wages in the US at the middle and low levels would have been higher, and government deficits would have been lower. Corporate profits and incomes at the higher levels would have been lower due to higher costs and increased demand for scarce labour in the west
As for the future ( I will only go out for about 20 years or so)
The west will see dramatically lower living standards for the majority of the mid and lower skilled people. Anyone without a high degree of technical knowledge will see living standards drop by 20%, due to competition from asia and of course the overall need for the west to lower debt loads.
After about 20 years the differences in wages will be dramatically lower, with quality asian workers getting paid roughly that of comparable western workers, with differing cost structures being taken into account
Why not? Considering the state of the two upcoming Asian powers (China and India), it is much smarter for a multi-national to have its corporate HQ in America or Europe, which have the best infrastructure, and the least corruption, and have its manufacturing base in either China or India. Therefore, the highest paying jobs would stay in the West, and the low-income jobs would remain in Asia. Until China increases its political freedoms, and until India comes down on the amazing amount of corruption there, the white-collar jobs won't go there.
And then you also have to factor in the fact that Europe and the US have been the centers of trade for hundreds of years (Europe for thousands). That doesn't go away overnight, and we still boast the largest consumer economies in the world. In that respect, one China and India's standards of living rise, we won't be affected too adversely, IMO.
Sure would be nice to see some sources for all this stuff you're saying.
(W)hy would a future employer even consider to hire a half-motivated, expensive European worker when there are well-educated, highly motivated labour available at a much lower cost?
Alright, so you mean that no matter the extent of the economic development in these uprising countries there will still be enough jobs and a big enough market in western countries to provide for the standard of living we're accustomed to?
Let me I put it this way: During the last decades we have seen European and American companies moving their factories to Asia, nothing new there. But we have pointed to our advantages when it comes to science and product development and taken for granted that this will be our area of work in the future. What if it's not? What if the best products are being developed in India? What if the cutting-edge science is being made in China?
Mr Härén has made sort of a formula for ideas. It basically says that to get a great idea you need creativity and knowledge. In western countries we've seen ourselves as the ones with knowledge, we have been the ones with the best universitys and the most inventive companies. But today there is an astonishing amount of people being highly educated in Asia, people with dreams and creative minds.
Maybe they are the ones that are going to be the leaders in areas we've seen as our areas of expertise. And if they prove to be, is there still a possibility that we can continue with our high-spending lifestyle?
I'm working on a project in which I have chosen to focus on the effect the Asian expansion will have on the future of Europe.
Well Im speaking of now, but if said countries were to develop they would also have the incomes to buy western products, development of countries in an open global economy would cause a shift in factors of production and employment. As in things would change and it would be painful in the short term, but for the better in general economic consensus.
You are talking about the west no longer being competitive in its products and thats highly unlikely given current economic situations. Maybe in 80 years that could be possible but nobody can predict out that far.
More creativity can only be a good thing, fear of the prosperity of other nations is extremely negative.
The way many live in the west is unsustainable something will have to change eventually. :shrug:
want to figure out how the lightning-fast development in the far-east
My problem with your argument starts right here. Europe and Asia are not separate continents. That is old world thinking. There has been a long history of exchange between these nations. The reason why people in "Asia" are now going into "Europe" is because there is increasing prosperity and people have the money to change locations. It's no longer one way.
The three highest buildings stand in Dubai, Taipei and Shanghai. Is this just a "penis-enlarger" for countries or is this a symbol of something else? Is it perhaps the symbol of dreams? Can it be a sign of that the centre of the world economy is moving?
I think they're "penis enlargers." For America, it's a case of "Been there, done that." American commercial real estate firms are more focused these days on finding tenants and trying to make a profit than making some sort of fashion statement. Dubai has visions of becoming a Middle East version of Hong Kong and wants to let the world know it's open for business, even though it's essentially bankrupt and had to get bailed out by Saudi Arabia. Look a little deeper at who designed some of these buildings. For example, Burj Khalifa in Dubai, the world's tallest building, was designed by Adrian Smith (U.S.); the structural engineer was Bill Baker (U.S.); the supervising engineering/consulting firm was Hyder Consulting (Britain); and the construction project manager was Turner Construction (U.S.).
Asian expansion... penis enlargers... :2rofll:
From the US. Congratulations on being so interested in global economics at a young age. I started my economic studies when I was 16. I own a company which does about 100k/ year in sales, I have a regular job, I have made a good deal of money in the stock market... I think you have a good future in your sights if this is what you are thinking of now.I'm an 18 year old guy who study Social Science at the high school Sundsgymnasiet in southern Sweden. I'm working on a project in which I have chosen to focus on the effect the Asian expansion will have on the future of Europe.
That depends on what you see your part you see your self playing in the global labor market. Developing nations have historically caused the same concerns at home and have gone thought the same tribulations away. This is nothing new.In short, I want to figure out how the lightning-fast development in the far-east, regarding business aswell as education, will affect my position on the global labour market in the future.
The first issue to consider is the wording here. Why would anyone hire a moron if there is a better skilled person who could be hired? As you get older you will realize the bulk of the population fits into a nice standardized bell curve. There's a few really good people on one end, a few really bad people on the other, and most fall in the middle some place.For example, why would a future employer even consider to hire a half-motivated, expensive European worker when there are well-educated, highly motivated labour available at a much lower cost?
If you listen he says there is no way to know what the next 20 years will hold - just as there was no way to predict the previous 20 years. Become an astute studier of history, because we do repeat ourselves. You just need to see the patterns.This is just the first part of three, in which he compares the similarities between the comunnication business 20 years ago and the energy business of today.
There is a global economy, a local economy, and a regional economy. If you look at the prospects for you jobs using those different glasses, you may have a more practical outlook.Anyway, my intention with posting this is to start a discussion with participants from different countries, because it is indeed an international issue. Hopefully we'll come up with some intriguing views on this particular subject.
Kind of... developed does not mean finished, it refers to the infrastructure, laws, government, and stability. Developing means not quite there yet.Developed means done or finished, right? Developing means something that is evolving and getting better.
Nothing new here. This is the drive to improve things. It is counterintuitive, but the pesimisim produces drive. The drive produces results.If you ask people here in Sweden if they think that our country is going to be a better place in, say, twenty years the majority will answer that it won't. Actually quite frightening.
Many developing countries rely on the government for the improvements in quality of living. optimism does not drive improvements, it is government sanctioned.At the same time in developing countries there is a totally different view of the future, there are people with hope and ideas of how to make their home a better place.
The concept you have of being stale or no longer developing needs to be re-assesed.one could hope that instead of standing still and being done, or developed, our countries aswell should be aiming to improve and develop.
No.where is the highest buildings being built? It's not in the U.S. and it's certainly not in Europe. The three highest buildings stand in Dubai, Taipei and Shanghai... Can it be a sign of that the centre of the world economy is moving?
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