•Now consider the decade in the future--whenever it comes--when Indians and Chinese begin to export white-collar service work to America on a large scale.
•The salary differential between America and these "outsourcing" countries will be on the order
of 5-1.
•If a 2-1 differential can cause a reduction in wages relative to trend of 30% over a decade, a 5-1 differential might cause a reduction relative to trend of 60% over a decade. That's a big deal.
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