I've been wondering when I'd see this story, and here it is on the Bloomberg site. Chinese manufacturers outsourcing work to factories in Vietnam and India. A few years from now it will be on to Bangladesh and Haiti and after that, Somalia.
It was almost inevitable that demand would push up wages in China. When that happened, the famous "race to the bottom" would take work elsewhere. Here is evidence that the process has begun.
Remember when everybody thought that Japan, Inc. would own the world? It didn't happen, and it won't. Looks like China, Inc. won't own the world either.
Globalization has a way of humbling the mighty, us included.
