President's Science Council Says Future Health Of Technology Sector Is In Jeopardy;

Manufacturing and Technology News ^ | October 3, 2003

[oceanview]

maybe somewhere, someplace, somebody in the administration will start taking this seriously.

I give Lou Dobbs credit, he has been talking about it.

and this article is correct, its going on everywhere it can take place in, and probably in new areas we haven't thought of yet. these monthly jobs reports will continue to reflect this.

when corporation put their 2004 plans into effect in January, expect alot more layoff anouncements.

[DannyTN]

Yeah, at least it's starting to get noticed. But the bureacracy better kick it in high gear if they hope to have a plan, much less implement one before it's too late.

[oceanview]

right now, the government is not just standing by and watching this happen. its a willing accomplice.

notice that the "executive" giving the statement has no fear of losing his job, his compensation is likely skyrocketing.

this issue, and the corresponding job dislocations, gets Hillary elected in 2008.

[RLK]

Last year, China graduated 219,600 engineers, representing 39 percent of all bachelor's degrees awarded in the country. By comparison, the United States graduated 59,500 engineers, or 5 percent of all bachelor's degrees (1,253,000). But 58 percent of all degrees awarded last year in China were in engineering and the physical sciences, as compared to 17 percent in the United States (a figure that is dropping by about 1 percent per year).

-----------------------------

WOW! I knew China was gearing up a program to graduate top grade engineers and scientists, but I didn't know it was moving this quickly.

[RLK]

maybe somewhere, someplace, somebody in the administration will start taking this seriously.

--------------------------

I don't believe George Bush has been serious about anything in his life. He doesn't have the mind to see implications or consequences.

[Lessismore]

From "The Economic Rise of China: Threat or
Opportunity?" by Nicholas R.Lardy, http://www.clevelandfed.org/Research/Com2003/0801.pdf

...

"But the mainland ’s production of infor-
mation technology hardware is based
on the import of high-valued-added
parts and components, almost all of
which originate within Asia.The
production of liquid crystal display
monitors in China, for example, now is
based largely on liquid crystal modules
imported from Taiwan, South Korea, or
Japan. Thus, even as China displaces
other Asian sources of supply of finished goods in third-country markets, it
is emerging as a huge market for high-
value-added parts and components pro-
duced mostly in Asia. The result is a
pattern of triangular trade. China
imports huge quantities of parts, com-
ponents, and electronic assemblies
from other Asian countries, in the
process running very large bilateral
deficits. China ’s deficit with Taiwan
last year was $31.5 billion. And China
runs a surplus in its trade with countries
like the United States that have a large
number of consumers of these elec-
tronic products. But overall, its result-
ing global trade surplus is relatively
small."

Note that the United States is not mentioned as the source of high-tech components going into goods manufactured in China.

[oceanview]

the degree imbalance is not the total issue. if china were graduating these people, but the US wasn't shipping off our own industries and jobs to china, these engineers would be working at Walmart like many US engineers are now. the real issue is the costs, its not that these engineers are better, they aren't, but when you can hire 4 of them for less then 1 US engineer makes, the management drones running US corporations will send the jobs right over.

[Lessismore]

this issue, and the corresponding job dislocations, gets Hillary elected in 2008.

Our Eva Peron!

[oceanview]

but look at few freepers even take this issue seriously. what do we have here, the same nucleus of 20-30 people posting about this. i would guess that most freepers will cling to the "free trade" mantra to the bitter end, no matter how many industries and jobs we lose, replaced by low paid service sector jobs.

[concerned about politics]

With manufacturing leaving the country,

The environmental laws and the cost of union labor is too high. Cut them both, and the businessess might stick around.
As long as the Socialist Workers Party is running the show, things aren't going to be changing soon.

[sourcery]

[Lessismore]

WOW! I knew China was gearing up a program to graduate top grade engineers and scientists, but I didn't know it was moving this quickly.

But they can't compete with us in BA Communications or in Pre-Law!

[oceanview]

even if we eliminated every EPA law we had on the books, it would not matter, so long as we have currency and trade issues with china that give them HUGE advantages at the expense of american jobs.

[oceanview]

and the law school application are piling up. All of my tech friends with college bound kids, they won't be sending them to school for engineering, they see the handwriting on the wall.

[sarcasm]

If we don't mention the 'defense' word and we just focus on economic competitiveness, we probably are missing a piece that we should address,"

Probably?

[RLK]

This area has volunteer fire departments. About a year ago the house across the street caught fire and nobody bothered to show up with fire trucks until it was almost too late.

That's the way the Bushs are about econonomics and the future of this nation. The writing is clearly on the wall here. We're through while this vacant-faced what-me-worry president congratulates himself over Saddam Hussein. What we are losing will hit us long after Hussein has died of old age. This is a cross between a Peter Sellers movie and grotesque science fiction. What is worse, people on this forum are ecstatic about it. Coming to this place any more is like getting hit in the head with a hammer.

[superloser]

I agree. Most freepers seem to be more interested in "free trade" because it lets them buy a $2 widget at Wally World.

"What right do you have to tell me who I can't buy from!" seems to be the mantra around here.

I've been saying for some time now that the bill will come due when the marginal tax rate hits 90% to pay for welfare programs as more and more people are unable to earn a living.

They just laugh and say it will never happen. I don't know what reality they are living in where you can just say "never" and it comes to pass.

Reality as always is something different, alas, and we, as a country, will eventually reap the bitter fruit of our own shortsightedness.

[oceanview]

the people warning about this, like those in the article, are desperate now. they see the trend, and realize that the "no turning back" point is not far off. they (we) see an administration that should be honest enough to care and do something about this, yet we are saddled with clueless treasury and commerce sec'ys, and a generally totally incompetent economic team. When Lou Dobbs is the leading voice on the national stage on this issue, we've got trouble.

Use the "national defense" issue is a hail mary pass to try and get someone to listen.

[sarcasm]

I've been saying for some time now that the bill will come due when the marginal tax rate hits 90% to pay for welfare programs as more and more people are unable to earn a living.

They are blind to reality.