The Global Economy and Outsourcing
It has been a hot topic in the news that many corporations have moved to outsourcing some of their jobs to other countries in order to lower costs. This has been beneficial for third world countries as it helps grow their economies, bring much needed capital and change their economies from a farming economy or manufacturing economy to a service related economy. With this change brings an increased standard of living and education. The cycle feeds back into itself and conditions improve even more.
The country that has received the most attention with customer service outsourcing is India. India is perfectly poised to be a strong player in the global economy for a number of reasons. First, India has a large number of English speakers. Although it is important to maintain their cultural heritage, English is the international language of business and it is necessary to compete globally. Second, India has an excellent education system, especially for a third world country, that trains its one billion people to be able to compete globally. Third, Indians are famous for their strong work ethic and desire to succeed. All three of these things combined makes India a hot growing economy.
The criticism has come from the U.S. service sector which has lost many jobs to India. It has been difficult for those that lose the jobs, but ultimately this will be beneficial for the United States. It leaves the best, highest paying jobs at home and creates new markets for our goods in India as Indians are raised out of poverty. The global economy makes not only the Indians richer but it makes us richer also.
