Results tagged “Economy” from Bill's Words

Worth the read. Says that Germany’s economic strength is rooted in doing the opposite of what we (the US) and the UK are doing. And what are we doing?

The money quote:

Wisely, the Germans declined the advice. Manufacturing still accounts for nearly a quarter of the German economy; it is just 11 percent of the British and U.S. economies (one reason the United States and Britain are struggling to boost their exports). Nor have German firms been slashing wages and off-shoring—the American way of keeping competitive—to maintain profits.

United Technologies Corporation has a strong presence in Connecticut these days. But the recent offshoring of some of its Hamilton Sundstrand unit’s San Diego engineering to Poland is telling: where costs are high, move the resource offshore. I will go on record to say that I give UTC’s manufacturing presence only about 10 more years in Connecticut (with all but development manufacturing jobs leaving Connecticut and heading to other states and offshore), and UTC’s engineering presence only about 20 more years in Connecticut. Management will be all that’s left.

(My timing may be a bit off. If anything, I might be guessing longer than reality…)