National incomes down 13% in 4 years.

MacMickster

An extract from a research paper by the Chartered Institute of Personnel and Development

http://www.willerbyhill.com/wordpress/wp-content/uploads/2012/07/5746-The-Trust-RR-WEB.pdf

This repositioning takes years to achieve and needs to be done by entering into dialogue with the workforce about the future. Put bluntly, many people in the UK and the West cannot expect the same form of employment deal in the twenty-first century as they expected or experienced when they joined the same employer in the twentieth century.

The financial crisis is not the only cause of this change. International
competition in the marketplace, the capacity of multinational corporations to shift production, or services, to cheaper economies and the emergence of India and China as new world economies put powerful pressures on the workplace in the West to be ultra-efficient and effective. These factors are shaping what employers can deliver within European workplaces.

Gracchus_Babeuf

Thrugelmir wrote: »

Why was the West loosing out to China?

Because people had money to burn on disposable objects that weren't a necessity.

Now we're turning full cycle.

I dooubt it. China still has a fair way to go to catch up with the West; much of that country is still in the third world.

Gracchus_Babeuf

MacMickster wrote: »

An extract from a research paper by the Chartered Institute of Personnel and Development

http://www.willerbyhill.com/wordpress/wp-content/uploads/2012/07/5746-The-Trust-RR-WEB.pdf

It depends on what job you do. Certainly, IT, which is where I work, has been badly hit by the mania of outsourcing to India. Back in the 1990s you could earn serious money as an IT contractor but that is all in the past. The endless legions of Indian IT workers have dragged the UK IT industry into the mire, which is where it still is.

Contrast this with the professions like law and medicine and these people are still laughing all the way to the bank.

GeorgeHowell

The coalition is at least addressing the fact that the world does not owe the UK a living, and thinking about what competitive advantages can be brought into play or developed. The Labour government relied almost entirely on financial services and made us a one-trick pony. Look where that has got us.

Thrugelmir

Gracchus_Babeuf wrote: »

I dooubt it. China still has a fair way to go to catch up with the West; much of that country is still in the third world.

Without the West's spend. Where is the growth going to come from? More demand has to come from domestic markets rather than exports. China has spent an enormous amount of money on useless infrastructure projects to induce demand and create employment.

Skilled labour rates have increased 70% in the past year and non-skilled 30%. So competiveness is slowly waning. Countries such as Vietnam don't produce to the same quality level. Although labour is cheaper. So many variables in play.