culled from BBC
Millions around the globe may have taken to the streets in recent years to protest against the impact of globalisation on their jobs and communities - but this backlash is only likely to grow as globalisation itself becomes more disruptive.
The stark warning comes from Richard Baldwin, president of the Centre for Economic Policy Research think-tank, who has been studying global trade for the past 30 years.
Technological advances could now mean white-collar, office-based workers and professionals are at risk of losing their jobs, Prof Baldwin argues.
In the US, voter anger with globalisation may have led to Donald Trump's election victory, but those who voted for him could be disappointed as his aim of bringing back jobs is unlikely to work, says Prof Baldwin, who also worked as an economist under President George HW Bush.
Protectionist trade barriers won't work in the 21st Century, he says. "Knowledge crossing borders in massive amounts [is the] big new disruptive thing."
It's going to help people in Africa and Asia compete more effectively with people in the West, as communication advances mean workers in the developing world will be able to control robots to do jobs in Europe and the US at lower cost, he says.
Virtual migration
Developing world labour costs can be a tenth of what they are in the West, says Prof Baldwin.
"They can't get here to take the jobs but technology will soon allow virtual migration, thanks to telerobotics and telepresence."
No comments:
Post a Comment