So I am reading good friend David Scott Lewis' post from China and he goes
"Lou Dobbs, everyone's favorite offshoring gadfly, is right: Jobs are lost as a result of offshoring."
David has a long, passionate post you should read - but that's one emphatic statement to start with. I am not going to defend McKinsey, but anecdotally and in results of GE, Boeing, Pepsi, Microsoft, Oracle, Amex, Disney, Marriott and a bunch of other American (and other western) companies, at least some of the money - and therefore jobs - comes back. There are more Chinese enjoying Disneyland than a few years ago. India is now one of Nokia's largest markets.I wish there was more systematic analysis - academic or government - of the net job loss, because folks like Lou will always focus on the gross job loss.
And what to do about the job loss? Lou's solution is to shut down our borders. I would rather see Susan Schwab pry open more closed doors for our products.
Folded arms versus open arms. I know what I like to see across a table.
