Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
A sub-point to your first item would be job exporting.

In the 90s, German businesses woke up to the fact that they had the equivalent a "little India" at their back door, i.e. countries with a motivated workforce - many of whom spoke German - willing to work for cheap (except that this workforce had a higher proportion of skilled industrial trades).

Consequently, throughout the 90s German industrial companies - both large majors and SMEs - transferred a lot of their manufacturing east.

This has contributed greatly not only to stagnant incomes but to a general atmosphere of insecurity.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Mon Dec 3rd, 2007 at 10:42:58 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series