The Chinese Century: The Rising Chinese Economy and Its Impact on the Global Economy, the Balance of Power, and Your Job

Chapter 7. East, East, and Away: Where the Jobs Are

The migration of jobs to foreign destinations, China included, has become a hotly debated topic in the United States and in other nations, mostly—but not only—in the industrialized world. Job migration has been blamed for a “jobless recovery” in America, with new job creation lagging behind economic recovery further than at any time since the aftermath of World War II, as well as for stalled employment growth in Mexico and in other developing economies. In fairness, job migration is not the only or even primary factor behind job losses: Productivity gains induced by technology (for example, automation), capital investment, process improvements, and enhanced skills; cyclical and nontrade related ...