As China became the world’s manufacturing center, millions of Western factory workers lost their jobs, yet countless Western consumers benefit from cheaper Chinese goods. India handles much of US companies’ back-office work. While this puts Western white-collar employees out of work, it allows Western companies to operate more efficiently, delivering increased value to investors. Robyn Meredith, a foreign correspondent at Forbes and a Hong Kong resident, discusses the positives and negatives of the ascension of China and India. Though this treatise hasn’t benefitted from the passage of time, getAbstract recommends Meredith’s work, with its resemblance to the Silk Road, where every stop is exotic, accessible and interesting.
In this summary, you will learn
- How China’s and India’s economies have expanded in recent years,
- How they developed offshoring specialties,
- How their growth affects Western workers and consumers, and
- How the West can compete.
About the Author
Robyn Meredith, a Hong Kong resident and former correspondent for The New York Times, is a foreign correspondent for Forbes magazine, covering China and India.
Comment on this summary
6 years agoSummary is well written but unfortunately it is dated book and information.
The winners of this revolution - Corporations, politicians, wall street, CEOs on this side of the fence and everyone else on the other side. Who is the loser? The American Worker! The bitter truth is that this phenomena is a result of Corporate greed. Have you wondered how many of your every day items have been cheaper? Phone cases - yes but otherwise look around - Toys cost about the same, cars, groceries, education,cable, movie tickets, gas ... everything costs about the same before / after the 'outsourcing' era.
I bought a hi-end speaker made in USA for 3K about 12 years back. Later sold them and recently bought the same - now they are made in China - guess how much I paid for them? 4K - who kept the profits?