A Cold War kid with capitalist tendencies. It is his diary of life, work, play and music beyond Iron Curtain...
17 October 2006
How Globalization Drives Down Western Wages
Asia (as we, the Turkish, are proud to be a part of it for more than a millenia) is fast developing into an economic powerhouse, with China and India gradually transforming themselves into the new masters of the universe. Meanwhile, the West faces the prospect of losing the globalization game, as European labor is devalued -- by the millions.
The following link is to a really handsomely written essay by Der SPIEGEL editor Gabor Steingarthas (It has been excerpted from his German best-seller "Weltkrieg um Wohlstand - World War for Prosperity")