Jun 2, 2004

Son of the American Dream

US runs a high-tech trade gap [CSM]
During the 1990s, American workers were told that if US lower-skill manufacturing jobs were lost abroad, they would be replaced by better-paying jobs in new higher-tech areas as long as they upgraded their skills to qualify for these jobs.

Now high-tech jobs, too, are increasingly moving overseas. Many countries are becoming more sophisticated in high-tech production, often with the help of graduates from the best American technological universities.

Large US companies believe the shift of high-tech jobs overseas is in their interest, allowing them to expand globally and cut prices for consumers. They label opponents as "protectionists."

China is of particular concern. Beijing has insisted that companies getting access to its large market share some technological know-how in return. Last year, the US deficit in technology goods and services with China soared to $20 billion, almost five times larger than the technology deficit with Japan...

What I want to know is, what's the deal with the idiotic green card lottery? Is this to diversify American unemployment?


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