Robert Reich- Globalization
1. Who is Robert Reich?
Who has relationship with Ihouse.
2. What are the myths about globalization?
Our company against their company
The lost of good job (change the competition of the job, technology)
Globalization and technology change competition of workforce.
We cannot hope to compete with low wage nations around the world.
3. Before China took that place, which country was seen as a threat to US economic eminence?
4. What are the forces that changed the composition of the workforce?
Globalization, everything made in everywhere. Somewhere getting job from American, like China.
5. How do the factories built today compared to the factories built in the past as to the creation of high paying jobs?
Job carious because insignificant demand. Recently, Customer in US are 70% spending constitute 70% gross profit. If consumer scared and enable to spend, wage continue drop
Consumers are not willing to keep the economic going
6. Do businesses have enough money to expand and hire more people to work for them? Why are they not doing so?
They don't need tax cut, more money. American have to 2 trillion of cash. They could afford to expand business and create a job, but they don't want to. They don't want to create job without customer.
7. Before the housing bubble burst, what made Americans feel wealthy and able to spend at a level that exceeds their earnings?
8. How does consumer spending today compare to the pre housing bubble burst? What explains this change?
We need to spend more to get the demand back, gross back and job back. we need to spend more to get the demand back, gross back and job back.
9. What is the key to Germany’s competitiveness in manufacturing?
Germany has invested in education. Math score in German continue get higher and higher rather...