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Wnderer
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Shrinking Global Economy
Wnderer   5/14/2014 4:27:49 PM
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I'm not sure this is a good thing. I think it might be a sign of a shrinking global economy. More manufacturing and service industry jobs in the US at the expensive of growth in information age STEM type jobs.

Bert22306
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Exactly as one would expect, but maybe faster
Bert22306   5/14/2014 4:16:46 PM
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Global economics is a self-regulating machine. Jobs move overseas when labor is cheaper overseas. It's only natural that as demand for labor goes up in these countries, cost of that labor will go up too. Eventually, the cost of the labor plus the extra costs involved with having a design manufactured far away, will create a new equilibrium position. This holds for any type of job, doesn't have to be just manufacturing.

I'm glad to see that LED lighting is part of this reshoring phenomenon. Because quite honestly, it was really aggravating to hear whiny politicians complaining that phasing out incandescent lighting would move US jobs overseas. Amazing no? That the only lighting US factories could produce profitably was a primitive design from the stone age? How do these whiners not embarrass themselves? Thank heavens it ain't so!



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