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on May 27, 2016

At present, Western industries are becoming uncompetitive because the Eastern economies can produce similar output at lower cost, but this is surely temporary. But China is already outsourcing production to other Eastern countries because it is slowly becoming out priced. What happens when all the Eastern Tiger economies also begin to find difficulty with being unable to recruit the skilled labour they need at the price they need, and are left with a pool of unemployable unskilled labour similar to ours in the West?

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