Globalization has brought out in open disparaging accounts by losers or would be losers - farmers of Republic of Korea, European shoemakers and US textile workers.
American Chamber of Commerce in China survey reveals, three-quarters of them are making profits and more than 40 percent of the surveyed said their China profit margin outperforms their global average.
Advocates for American workers produced figures of jobs 'poached' by China from the United States and undervaluation of its currency.
The US manufacturing job losses were mainly due to increased production of American companies.
American firms cannot compete with sectors of manufacturing industries as competitors from developing countries operate on much lower costs.
This requires constant adjustment in American industries.
These adjustments may be painful and difficult, either for Chinese farmers, ROK farmers, European shoemakers or American textile workers.
Concerned parties, especially Governments, should undertake adjustment and those affected find new jobs, instead of blaming others.
marketing@alchempro.com
