Technology Could Change Trend of Global Trade
Two of the biggest forces influencing global economic activity over the past three decades — globalization and automation — have had polar-opposite effects on workers in emerging markets. The former pushed multinationals to move production to countries with cheaper labor costs than advanced economies, while the latter effectively substitutes capital for labor in the production process. In a note to clients, analysts at the Goldman...
Obama Talks Link Between Robots, Jobs
Washington — In one of his first attempts at selling the just-completed Trans-Pacific Partnership, President Obama made a statement about what’s actually ailing the American worker. Offshoring might have sent a lot of jobs overseas in recent years, he told the radio show Marketplace, but the current headwind is robots. “Frankly when you look at job loss and lost leverage, automation and technology has probably contributed more than...
