Education is what really matters. Who could possibly disagree?
The globalised economy has moved jobs from the G7 industrialised economies (in alphabetic order: Canada, France, Germany, Italy, Japan, UK and US) to the newly industrialised BRICS economies (Brazil, Russia, India, China and South Africa) which account for half the world’s population. The simple and obvious reason for job migration was initially because labour costs were so much lower in the BRICS economies. But their manufacturing experience has provided a foundation for their future economic development; they now offer much more than simply cheap labour.
President Chump promises to bring those jobs back to America, but he’s going to struggle. The G7 economies will not be competitive at the low end of economic activity, unless and until they fall much further back into the doldrums. G7 success will depend on developing in the high tec, innovative segments of new industries. And to do that, they must lead the world with their educational systems.
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