The cost of labour in Asia is considerably cheaper than the developed world. There is no surprise at all that the trend of more jobs being outsourced: skilled, semi-skilled or unskilled from the developed world to Asia. More western world jobs are being outsourced to Asia and lots of cheap imports from Asia are sent back to the western world nations. It is far more cost effective for multi-national companies to outsource jobs to foreign labour markets that cost only a fraction of the price. IT, accounting, engineering, factory and agricultural jobs, etc are being outsourced by companies in record numbers to overseas markets. The trend will continue for developed nations to lose more jobs as the developing world gains more jobs. The financial downturns are engineered by the governments and the banks to increase the trend of more jobs being outsourced to Asia that save more companies on labour costs.
Western world nations may soon be forced to accept lower wages in line with Asian pay rates. Some of the developing Asian nations have a poor track record on human rights. No political rights and no social rights granted to employed citizens. The minimum wage in the US is around $10, in China and in other Asian nations it is around $1 per hour. The financial downturns are engineered by the governments and the banks to increase the trend of more jobs being outsourced to Asia that save more companies on labour costs.
Minimum wages in Europe nations are considerably higher than the US. The cost of employing people in Europe is too expensive for the multi-national companies and they look to operate and exploit cheaper labour markets such as China and Thailand. The union movement in Europe is strong because workers believe their rights need to be protected by greedy corporations who rip them off. Higher wages usually results in higher living standards, high inflation and higher rates of unemployment.
