Cheap goods is something everybody goes for and that is the main reason why US has the biggest retailer in the world "Walmart". What is so facinating about the quality of goods in walmart is the fact that they are cheap. People dont buy the best, they always buy the best they can afford. Exactly the same phenomenon is taking place in this service industry i.e. in case you get the same skill set at a cheaper price you may as well have it. there is nothing wrong in globalising the economy and just cause US is loosing jobs in this sector does not mean globalisation is bad. Moreover the comment about india being a "outsourcing bitch" is really ridiculous. In that case US should stop trading with the whole world!!!! A good example is US selling arms to pakinstan -(F16's to be specific in this case) and in a month or so offers the same deal to india (F18's actually). The statement that is made is that US wants to have balance of power in the region. Wow isnt that a great perspective! today if US stops trading with other countries for whatever stupid reason the consumers there will not be able to afford the lifestyle that they lead today. Simple fact - go to any of ikea, sears, walmart, tommy, gap etc etc store and check as to how many things are made in the US? also remember that US is having a big trade deficit which means that US is borrowing from the whole world at this stage.
Finally last but not the least, remember that this is still forest and it is all about survival of the fittest. this means the best and cheapest will survive and at this stage it is india, going ahead it will be some other country but till that time the indian economy will have enough power to sustain itself.
Slashdot Mirror
Cheap goods is something everybody goes for and that is the main reason why US has the biggest retailer in the world "Walmart". What is so facinating about the quality of goods in walmart is the fact that they are cheap. People dont buy the best, they always buy the best they can afford. Exactly the same phenomenon is taking place in this service industry i.e. in case you get the same skill set at a cheaper price you may as well have it. there is nothing wrong in globalising the economy and just cause US is loosing jobs in this sector does not mean globalisation is bad. Moreover the comment about india being a "outsourcing bitch" is really ridiculous. In that case US should stop trading with the whole world!!!! A good example is US selling arms to pakinstan -(F16's to be specific in this case) and in a month or so offers the same deal to india (F18's actually). The statement that is made is that US wants to have balance of power in the region. Wow isnt that a great perspective! today if US stops trading with other countries for whatever stupid reason the consumers there will not be able to afford the lifestyle that they lead today. Simple fact - go to any of ikea, sears, walmart, tommy, gap etc etc store and check as to how many things are made in the US? also remember that US is having a big trade deficit which means that US is borrowing from the whole world at this stage.
Finally last but not the least, remember that this is still forest and it is all about survival of the fittest. this means the best and cheapest will survive and at this stage it is india, going ahead it will be some other country but till that time the indian economy will have enough power to sustain itself.