Irc, this Boston group was also peddling another study earlier about how America will regain manufacturing crown or something along those lines. But the fact is that it isn't labour that is driving manufacturing in China but the supply chain logistics and Chinese manufacturing is the hub to 3 billion people in Asia.
Chinese Economics Thread
- Thread starter Norfolk
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Irc, this Boston group was also peddling another study earlier about how America will regain manufacturing crown or something along those lines. But the fact is that it isn't labour that is driving manufacturing in China but the supply chain logistics and Chinese manufacturing is the hub to 3 billion people in Asia.
AssassinsMace
Lieutenant General
Well high unemployment in the US does not equate to being a low cost country. A job at McDonald's in the US is more pay than average in a country where jobs are outsourced to. It makes me wonder if the journalist is stupid or the journalist thinks people reading are stupid.
bladerunner
Banned Idiot
What a lot of consumers dont seem to realise is that buying cheap can be a false saving.
What the article should have been about is "the race to the bottom". Exasperated by "Globalisation".
AssassinsMace
Lieutenant General
Well the American public refuses to blame those that are responsible. Namely American corporations. It's just those that like to argue that it's the country that jobs that are outsourced to to blame. No the corporation that decided profits at any cost is to blame. Even with the massive corruption in all of history exposed because of the 2008 financial crisis, people are still in denial. The public just wants to bash countries like China about jobs being outsourced which proves bringing jobs back home isn't the prioirty but just a cover for something else. After the Kony 2012 video came out, George Clooney didn't want his cause about Darfur to be upstaged and went on a press tour using trigger words like American values and democratic and human rights principles and called for the US to follow them to help in southern Sudan. But his only tactic was to pressure China. So the US needs a communist dictatorship to spread American values for them? That has been pretty much Obama's foreign policy getting others to carry it out. That's called not going in a straight line to get where you want to go the fastest. That happens only when there are a lot of lies, spin, and manipulation going on in between. Which means getting to end is not the goal or priority. The American public is guilty too. Not only do they buy these products but they refuse to blame who's really responsible for outrsourcing jobs.
Equation
Lieutenant General
One can't blame solely on outsourcing or globalization for lost of jobs. It's just that those emerging economy nations has caught up with the manufacturing skills of the developed ones, therefore price has became a factor. Developed countries just have to keep up with new ways of manufacturing or new set of skills to stay ahead of the pricing for manufacturing good. In all you have to make something that's hardly anyone could do in large quantities in order to create jobs. At first the internet and I.T. services are supposed to replaced those low skill jobs, but it's India and China are taking a pretty good piece of the pie because of the skill levels were able to match some of those services.
Maggern
Junior Member
Here in Norway they're making a big fuzz how it was side-stepped in this Chinese Arctic PR tour. Sadly, the Arctic council must be unanimous to allow new members, and Norway has stated it's not willing to accept a country that doesn't talk to it. Thus China's membership must be put on ice until the two countries can resolve their bilateral freeze.
bladerunner
Banned Idiot
escobar
Brigadier
More than ten Malaysian financial institutions, including several major banks in the country, have signed up the Renminbi Settlement Service, Bank of China Malaysia said in a statement released on Wednesday.
The 11 financial institutions that signed up the newly started service include Maybank, CIMB Bank, Public Bank, Hong Leong Bank, RHB Bank, Alliance Bank Malaysia, Bank Islam Malaysia, Bank Muamalat Malaysia and AmBank as well as two investment banks, Hong Leong Investment Bank and OSK Investment Bank.
Bank Negara, the central bank of Malaysia, announced earlier that Renminbi Settlement Service be included in its Real-time Electronic Transfer of Funds and Settlement System ( RENTAS) from March 21, a move which it said would provide a natural hedge against the fluctuations and volatility of other currencies while eliminate settlement risk for Renminbi transactions.
Meanwhile, Bank of China Malaysia was appointed as the onshore settlement institution of the Renminbi Settlement Services.
Zheng Jingbo, Chief Executive Officer of Bank of China Malaysia, said on a seminar earlier this month that Renminbi would be more widely used in the region, as the bilateral trade between China and Malaysia has been booming in recent years.
Mohd Suhail Amar Suresh, Managing Director of Malaysian Electronic Clearing Corporation that runs the service, said the milestone would boost the development of foreign exchange market in Malaysia.