Thursday, September 25, 2008
bangalore is the new wall street
Suddenly, Wall Street is a thing of the past. A few years ago students would kill for a good internship on Wall Street, but today many American students are bypassing these internships for one in India.
"Bypassing internship opportunities on Wall Street, just a subway ride away from their Greenwich Village campus, they went to India to spend the summer at an outsourcing company in Gurgaon, a suburb of New Delhi."
The reality is, that America is no longer the leader in technology, but second to places like Gurgaon, and China. Many of these young American students are leaving the United States for these countries because they feel it would look better on a job application, and most importantly there is better opportunity for them out there.
Sadly, America isn't the land of opportunity anymore. Hundreds of Americans lose their jobs daily, the economy is in shambles, and we are lagging behind countries like India and China in technology. Many of the products consumers buy are not made in America, they are made over seas because the labor is cheaper. Companies like Wal-Mart are taking away from American businesses and causing the rise in unemployment. Maybe the problems America has is due to these young minds leaving the country and working for other countries who are more technologically advanced as we are. Whatever the answer is, America is no longer sitting at the top, instead we are lagging behind and wondering why.
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You should be concerned, but there is still plenty of opportunity here at home if we use our resources to promote technological innovation and research here in the U.S. We are can still be competitive if we recognize the problem an come up with a realistic plan for economic development.
You know we have a problem when our biggest employer is a big box retailer and not a major manufacturer.
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You know we have a problem when our biggest employer is a big box retailer and not a major manufacturer.
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