EU starts globalization fund to support outsourcing-hit workers

[NVMojo]

imagine that! Not in America. We just bend over and deal with it.


EU seems to be getting it right - rather than getting protectionist, a strategy that does more harm then benefit, it is aiming to soften the impact of globalization, and better prepare its citizens.

"As a result of relocation and job outsourcing to low cost countries like , the European Union has proposed a 500 million Euro annual fund to soften the blow of globalisation on Europe 's economy.

The money, to be financed by a new 'Globalisation Adjustment Fund', is an indication of Europe 's acceptance of globalisation and will be used to aid European employees in dealing with the unexpected developments and side effects of relocation to countries outside the EU, the INEP agency reported Wednesday.

The President of the European Commission, Jose Manuel Barroso, told a news conference in Brussels Wednesday that the initiative "is an expression of our desire to reform".

"Globalisation means empowering citizens to reap their benefits to the full. The globalisation adjustment fund shall reinsure that EU citizens are equipped for change and opportunities so that they can move on to new, better, more sustainable jobs

"Globalisation is irreversible. It is going to continue. We have to recognise this fact and we have to make sure that European values accompany this globalisation," he said.

more...

http://www.outsourcereporter.com/2006/03/02/eu-starts-globalization-fund-to-support-outsourcing-hit-workers/

[enid602]

1. EU

That's not much money, though for such a huge federation.

[Solon]

2. True that money will be burned through in about six months...

Plus, where are the workers going to work after the fact, even with renewed job training, any blue collar job, the majority of jobs, outside of local servicing and transportation jobs, plus cashiers, of course, will be outsourced. They can't have 400 million truck drivers, train techs, plumbers, and cashiers, they need more job variety.

[indie_voter]

3. Some outsourcing is inevitable, I agree

However, I think the path we're (US and in some respect the EU) taking is very dangerous. The US will end up with nothing if we don't figure out how to live with globalism but protect ourselves. Our corporations are very short sighted in pursuing short term profits.

MHO, this goes beyond the frustration of not understanding the person at the other end of the phone. I am extremely worried about the exporting of our intellectual property (IP).

I had no idea we export so much of defense contracts (and I used to work at one eons ago as a young engineer). How do we know strategic bugs aren't being inserted in to the software/hardware (I know, I know, this is very tinfoilish of me :tinfoilhat: )? I've sat in too many design reviews to have much confidence that stuff like that would get caught.

Also, I wouldn't be surprised if these same corporations running to India, China and elsewhere are going to find their IP stolen and produced by India's, China's (etc) local corporations for far less money. How long are these countries going to be content to be our cheap labor before they take over the store?

For some odd reason I've been thinking of the Sampson and Delilah story. Corporations are being seduced and in the process might find their proverbial hair chopped off.

This outsourcing with no limits is very very short sighted. Yes, we have to live in a global economy but that doesn't mean giving away the store.