Blame emerging middle classes in the Third World for poor job growth in the United States.
American corporations hired one million locals in 2010, but l.4 million in foreign countries where international markets are growing twice as fast.
To avoid import fees and high cargo transportation expenses, foreign vehicle manufacturers long ago started building plants and hiring employes in America.
American companies do the same in foreign countries to gain the same advantages.
It all makes sense in a global economy. But it doesn't do much to the bottom line for millions of jobless Americans.
Some American corporations have added insult to injury, however, by closing their domestic operations and transferring all jobs overseas.
Levi Strauss and Co. and Nike Inc., two iconic manufacturers of jeans and athletic footwear, are two such notable traitors.
They are headquartered in America but employ only coolie labor in the Third World to produce their goods for sale here and abroad.
Remember that the next time you head for the mall. (2 JANUARY 2011)
