domingo, agosto 17, 2008

India avanza (y el resto tiembla)

Managing Globalization, uno de los blogs del IHT, publica un comentario sobre la evolución del outsourcing hacia la India:

When you think of outsourcing to India, you probably think of call centers, billing departments, software engineering and clerical services. Now, however, India is moving further up the white-collar ladder. How far can it go?

As Heather Timmons writes, big investment banks in the West have been trimming research jobs and hiring Indian firms to do their digging. It makes perfect sense, since much of the research is just number-crunching and poring over reports, certainly nothing that would require you to be in New York, London or anywhere else in particular. And as Heather suggests, there’s no reason why other high-skilled jobs like the development of new financial instruments - derivatives and “structured products” - shouldn’t follow. Those are some very lucrative jobs indeed, usually well over $100,000 a year in the West.


De todos modos, esta relectura del Flying Geese Paradigm no pone muy contentos a los lectores del blog:


India and Asia protect their own markets. India has high tariffs and tight visa regulations. South Korea all but bans foreign car imports but exports cars to the west. US trade representatives have made one-way agreements hoping for future reciprocity. However, Asian countries are mercantilist in nature as seen by their scuttling of the Doha agreement.

It is time to renegotiate these one-sided trade agreements. They are hollowing out the US job market for all skill levels. Only the top one percent benefit. India and China are going to have to develop their own job market and quit leeching off the US market.

For 80-90% of the people in the US, free trade in its current form has proven to be a losing proposition. Revolt is in the air.

Posted by: Tom Miller — 12 August 2008 12:33 pm

There is justice in the world.

I am a mechanical engineer. My job was outsourced fifteen years ago. I could never understand how or why these Wall Street people were able to hold on to their high salaries. They earn multiples of what anyone in any other industry can earn for the same work. What point of differentiation did they have that made them not only untouchable, but able to command such a premium?

I can’t wait to see some poor bankers struggling to pay their rent. Who knows, maybe creative people with get some appreciation for a change. Relatively speaking that is. In the end, we’ll all be working for Chinese wages.

(From the United States)

Posted by: Albert P Ros — 12 August 2008 2:59 pm

It is scary to know that after 20 years as financial analyst in New York, my job can be done by an Indian for a fraction of what I earn. I guess I should prepare to either work in India or lower my salary to the Indian level.

Posted by: Joanne Finnessy — 12 August 2008 4:13 pm

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