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Last week’s CI CyberNews CyberPoll focused on globalization. The vast majority of respondents (95.5%) believe that American businesses would have proceeded with the transfer of production to lower-cost labor centers outside of the U.S. even if they’d known of the domestic factory shutdowns and unemployment that would result.
“Most large American businesses would have proceeded with it, because many of these have benefited from these ‘lower-costs labor centers.’ It’s the American worker and small businesses that have been hurt.”
“Business is ALL about the bottom line. If a company can conduct its business operations at an overall lower cost and still produce safe/quality products, then of course the company will use lower-cost labor centers outside of the US. This was going to happen eventually; business isolationism is not an option.”
“Consumers always want low-cost goods to improve their living standards. Globalization has resulted in consumers’ access to low-cost goods and products, and American businesses would still have had to produce at lower costs to stay in business.”
“Yes, US businesses knew all along that plant shutdowns and unemployment would result but that it would mean more profits. The American people were told that free trade would benefit them too, with markets opening up for our goods overseas, and so many people laughed at Ross Perot when he talked about the sucking sound of jobs lost overseas but the guy was right!”
“I fear that the perception of business in this society and the planet as a whole is to profit. At times almost at any cost. Until the concept of business becomes that of servitude and social responsibility we will continue to see jobs go to countries with lower wages. While this may be good for a company’s bottom line, it is devastating on a country. A country’s strength comes from its economic might, not from its military might. As such, the military is simply the most intrusive means of imposing a country’s economic and political will. Every great society, kingdom, nation, and empire have one thing in common. That is commerce, for as long as they were competitive they existed in opulence. But as their economics weakened, so did their regional/global and military might. A company’s loyalty is to its beneficiaries. Whom it serves, not to society or its customers whom in this day and age are in servitude to corporations. As time continues China’s wages will begin to rise to the point were jobs begin to be exported to places like India, South and Central America, Haiti and last on the list will be to Africa. Once it reaches Africa the global economic cycle will have reached its end and returned back to its beginning. Let’s not forget that the Egyptian and Sumerian empires began in Africa. While many will argue that Egypt is part of the Middle East one need only look at a map to see what continent it resides on. So in the same way that Africa has gone so will the US, China, and all other countries in this cycle of economics. By the time the cycle returns to its point of origin only yet to begin again. One has to ask what the US will look like? Will it be a 3rd world country? The answer is very possibly yes, by the standard of society at that point in the distant future.”
“Business is about making money.”
“Business leaders knew exactly what would happen to domestic factories. The mentality of ‘everybody’s doing it - we have to compete’ was the excuse to look the other way.”
“Yes because the business cycle of investment bankers making decisions had already begun. I see investment bankers with only short term thinking and not long term investing in manufacturing technology in the mature industries. Hence, the ownership of tile companies moving almost entirely to overseas ownership, for one example.”
“Sure they would have switched to cheap labor dollars. It is all about corporate profits. They will close a plant that operates and makes a 10% return on the investment and employees a couple hundred American workers to make a 20% profit overseas with the cheaper labor and fewer regulations.”
“Government rules, regulations and restrictions, along with unions, have pushed a lot of industries off shore. It is almost impossible to purchase small lots of maganese steel and other steel castings here in the USA.”
Many thanks to all of the CI CyberNews readers who have participated in our CyberPolls! Not a CI CyberNews subscriber? Follow this link to sign up for your free subscription!