Word: low-end
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...have a lot less to do. During the downturn, the rates at which industrial capacity was being utilized in the U.S. and Japan, the world's two largest economies, plummeted to the lowest levels on record. In China, the world's workshop, tens of thousands of factories making mostly low-end merchandise have shut down...
...money and massive government spending, then some jobs will return. In the meantime, train people for whatever work they can get - fast food, nursing, you name it. But if we're in a posthysteresis world, then just adding gas to the economy won't be enough, and making cheap low-end jobs won't deliver a workforce capable of sustaining competitive growth. "There's no use making economic change if you don't have human agents who can take advantage of it," Unger explains...
...Koreans may have reason to fret. A key plank of President Ma's economic platform is to capitalize on an expanding China to propel Taiwan's own growth. Though Taiwan firms have already shifted much low-end manufacturing to China, they have been operating under severe restrictions, such as a ban on direct travel between China and Taiwan, and limitations on investment, which put Taiwan at a disadvantage versus other economies in Asia that enjoyed greater access to the mainland. The regulations were a result of the tense political relationship between Taipei and China's leaders in Beijing, who consider...
...members are called mileuristas. "The mileurista," explains Daniel Lostao, president of the Youth Council of Spain, "is someone who earns €1,000 ($1,300) a month, despite all their education and training. They've got master's degrees and speak multiple languages, but they can only get a low-end job, where they're lucky to earn €1,000 a month. It makes you wonder: what's the point of going to university if you're going to end up a cashier?" (See pictures of a Spanish village...
...shifts at diners, bars and neighborhood joints. Some of it is pure drudgery - like prepping a "literal ton of corned-beef briskets" at an Irish pub the week before St. Patrick's Day - but when the orders start pouring in, the pace and chaos and heat in even a low-end kitchen somehow fuse into a kind of mass lunatic joy. "I am God of the box," he writes, "the brain-damaged Lord Commander of a kingdom of fifty feet by five and made entirely of stainless steel, industrial tile, knives, sweat and fire...