Monday, January 02, 2017

Perspectives

"Though new technologies will not completely erase the benefit of cheap labor, they will reduce the number of opportunities countries have to industrialize, diversify and grow their economies...

As advanced, industrialized countries no longer have to rely on low-wage labor in far-off places, they will take advantage of new technologies and start producing low-end goods closer to home. States that have not yet begun to industrialize will have the hardest time; the longer it takes them to develop over the next few decades, the more difficult it will be for them to do so as the growth of advanced manufacturing elsewhere shrinks the opportunities available for emerging manufacturers."

One can imagine what the fall-outs are in the "developping" countries: higher unemployment, more erosion of social services, more migration, social unrest, uprisings, coups, wars, etc.

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