-Caveat Lector-
"Even if outsourcing leads to some shedding of labor, the increased efficiency could lead to higher production and an expansion of employment in other lines of work," IMF economist Mary Amiti and Shang-Jin Wei, head of the IMF's trade unit, write in Finance
<and Development, a quarterly in-house magazine."
This is the latest spin. Outsourcing might increase profitability of outsourcing companies but does not lead to an 'expansion of employment in other lines of work'.
The reason it does not lead to an expansion of other domestic jobs is that most of these jobs can no be performed as efficiently and much more cheaply as foreign outsourced jobs.
Note there are no statistics offered to back up their propaganda claims.
The reality is the world has a surplus of labor and the US no longer has a monopoly on worker skills, infrastructure, or academic resources.
Unless your job cannot be performed at the end of an internet connection or in a foreign factory - it is toast. flw
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