See You in Beijing - How Wall Street Discovered Offshoring
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After one big company starts exporting high-tech jobs, so do all of their competitors, at least if they plan to stay in the game. And that’s what happened. That’s what the country has to deal with today. We voted for the congress that created laws allowing free trade between American companies and workers in developing countries. We are a capitalist society, so when the accountants proved that American-owned companies could earn billions in profits by exporting, the government stepped in to make it legal.
The total annual cost of a programmer in China is $15,000 dollars. That’s right, those guys in CS and Calculus class whose class average was 110, who left their families behind and traveled thousands of miles to come to America, to get an American diploma and start working for an American company just to make something of themselves, only cost $15,000 a year for an American company to employ as long as they are in China or India.
It’s common knowledge that education in America is lacking (at least in its public education system). Vast portions of the populace can’t pinpoint the Pacific Ocean. Some of these people are the ‘smart’ Americans. While America is dumbing-down education since America is more concerned with entertainment and status, China is increasing education. In 1999, China graduated three times as many engineers as America.
As if that isn’t enough of a glaring statistic that some American’s should be wiping the smug look off their faces, the engineering graduates accounted for almost half of all undergraduate degrees in China. What about America? Engineering graduates made up 5 percent of all undergraduate degrees. The number of graduates in the US with “smart people” degrees is dropping yearly. China is generating a swarm of workers capable of creating and inventing the Tommy Hilfiger pants off of the United States. If Americans still aren’t worried, consider that only 2.2% of China’s twenty-four-year-old population earned a bachelor’s degree in 1999. When those 2.2% start cashing their paychecks from American companies and handing the loot over to their brothers and sisters to go to school as opposed to let’s say, spending $100 on a pair of pants, that number will increase quickly. With only 2.2% of the population receiving undergraduate degrees, China still produces three times as many smart people as America with 35.3% of the population receiving degrees. - http://lieberman.senate.gov/newsroom/whitepapers/Offshoring.pdf
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