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Thread: Global downturn just begins!
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[quote=MARRIE,320123]The further impact on global economy is from China's upcoming industrial restructuring after the mile stone although this round economic cycle has not seen the bottom. I am saying that because competition in job markets has been becoming more fierce in terms of seeking cheaper labors filling up positions requiring higher and higher skills. West was not, is not and will not be like Japan where promotes life-long employment and social responsibilities by keep labor redundant via reducing working hours, making wages flexible, switching interdepartment positions and retraining (this features is making Japan less and less compatitive). And outsourcing jobs with high techonology intensive to China and India where high skilled tech staff can finish projects faster and more economically. So It's just begun. [/quote]
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