Cisco moves even more to china.

Fri Sep 24 13:49:54 UTC 2004

On Thu, 23 Sep 2004, Joseph wrote:

> Modern capitalism does create a race to the bottom effect for labor 
> which seems to have no end.

This race exists because of imbalances in prosperity in world. The 
ultimate effect will be to completely level standard of living in the 
world, which in the greater scheme of things will be a good thing. 
This level will be far higher than it is now for the vast majority of 
people in the world. For some unfortunately it will no improvement, 
possibly even a slight drop.

It's easy for me to say though, I live in a country that has gone 
from one of Europe's poorest, to one of Europe's richest in barely 20 
years, thanks to globalisation and external investment (and EU grants 
and tax breaks to help attract that external investment).

regards,
-- 
Paul Jakma	paul at clubi.ie	paul at jakma.org	Key ID: 64A2FF6A
Fortune:
Kilroe hic erat!