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An interesting article (from Guardian)

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I think media on both the sides are exgaggerating this euphoria.They are waiting for some 'special'news to happen. True that many companies are joining this bandwagon,still the ecomonic effect will be marginal.Market should be stable by this year end.
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There are some interesting replies to that article in the letters section of the Guardian today.
Someone basically says that to say england 'destroyed India's manufacturing capacity' is way too exagerrated. What england did, apparently, is to protect their own wool market from imports of Indian cotton. I regard this as good healthy protectionism not actively going out and 'destroying' another nations industry.... oh gods, i'm not a historian. i see a lot of indian names on this site. please dont let this thread turn into one of the 500 post horrors like on the Sun java forums where someone puts a post in the middle of the "100% java" forum like "osama bin laden was right".
I find the most interesting aspect of outsourcing is to wonder exactly how UK people will be able to afford to buy products if they no longer have jobs. Let's say 90% of call centre jobs and 70% of IT jobs are outsourced, how many jobs is that lost? Err I dunno really but I would guess its an ENORMOUS amount, seeing as that in the old industrial areas of the UK the only 'industry' there is is call centres.
What's clear is that ´┐Żbillions will be lost from the uk economy, and the companies that decide to eat their own bodies for lunch will find that , yes, in the short term one saves money on food, but in the long term, one suffers real bad.
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Such optimism. Just what I would expect from the Guardian, I suppose.
Tell you what. Let us save this editorial and revisit the subject in 5 years time. I'll bet you dollars to donuts that the prediction will be the opposite of what actually happens.
It's the fallacy of many arguments based upon temporary trends. One takes draws a line based upon a two year trend and assumes that the entire future will follow that line. Ignoring the fact that economic activity tends to follow a sine wave pattern with peaks and valleys. I think we are at the bottom of a valley right now, or perhaps just beyond and on the way up.
This guy is ignoring the inflection point and it's leading him into a crash dive....
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