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From 2000 to 2010, the U.S. experienced a net loss of 687,000 jobs due to outsourcing, primarily in the computers and electronics sector. Public disenchantment with outsourcing has not only stirred political responses, as seen in the 2012 U.S. presidential campaigns, but it has also made companies more reluctant to outsource or offshore jobs. [102]
Offshoring to foreign subsidiaries has been a controversial issue spurring heated debates among economists. Jobs go to the destination country and lower cost of goods and services to the origin country. On the other hand, job losses and wage erosion in developed countries have sparked opposition.
By now it's routine for us to hear about jobs going overseas, or certain aspects of manufacturing or customer service being outsourced to countries like China and India. But now outsourcing ...
Some key disadvantages of global sourcing can include: hidden costs associated with different cultures and time zones, exposure to financial and political risks in countries with (often) emerging economies, increased risk of the loss of intellectual property, and increased monitoring costs relative to domestic supply.
If there's one position that both presidential candidates can agree on, and it may be the only one, it's that outsourcing jobs overseas, or "offshoring," is absolutely terrible for American workers.
Given the rapid growth of this sector, several companies have started to use offshore development in China, India and other countries with a lower cost per developer model. In the early 2000s, the leading countries in offshore custom software development were Russia, India, Ukraine [3] and China. The time difference when working with India and ...
This opportunity, which has increased since the latter part of the 1960s, represents the production of goods to be sold explicitly to more developed countries. In the late 1950s and early 1960s, developing countries emerged as the sites to relocate labor-intensive manufacturing industries, as they were moved away from developed countries. [5]
Offshoring, according to the ORN, refers to the process of sourcing business functions or processes supporting home-based or global operations from a foreign country, either through wholly owned organizational units (captive offshoring/shared services) or external service providers (offshore outsourcing). [1]