Wednesday, October 24, 2012

"Gangnam" rhetorics and unemployment in America

One of the sensitive issues that was taken up during the recent debates between presidential candidates incumbent President Barack Obama and Mitt Romney centered on how to tame the rate of unemployment in America.

Unquestionably, the exchange of gangnam rhetorics between the two protagonists appeared to have satisfied the appetite of those who wished to hear something new as both of them articulated themselves on how to solve the massive unemployment, which put many Americans to rely on welfare funds to survive the dog-eat-dog competition. Surely, others may have just shrugged their shoulders but in their minds they knew who to vote for.

Whether or not the rhetorics had worked to the advantage of both candidates, nobody knows. One thing sure, many corporations that are successfully operating in China and other Asian countries,  where labor is much lower, may be re-thinking on whether to take the bait or not. For sure, it won't be easy for them to decide yet at this point in time. And there is no assurance yet as to whether the results of the forthcoming elections will change the corporate landscape in America. 

There are a lot of issues that the two candidates had discussed. Many Americans were both happy and sad, depending on how they perceived the points made in the debates.

But I think the major concern by a lot of people focused on job creation. And I don't think the rhetorics being made by both candidates will totally resolve this dilemma.

The question now is how to convince the big corporations to re-establish their presence in America? Experts believed that jobs can be created only if new businesses are established. Or those that had relocated to China will come back and re-establish their presence in the America again. But how?

Unless the mindset of corporate bigwigs in America lean toward giving dole outs, that's only the chance when, perhaps,  big corporations that had relocated to Asian countries like China will be encouraged to re-establish their presence in America.

While the American workers stick to their old practice of getting reasonable pay for a much less hourly pay, it is less likely that American foreign-based corporations will be dictated to come back and give up the huge profits that they generate in China. 

Obviously, when many people have become jobless for many months, if not years, creation of new jobs is a welcome news. But how could this be done is something that remains to be seen? And I don't think that American workers will ever settle for the same pay as what the Chinese workers are getting.

In its absence,  what the incoming president has to do is make sure that new businesses have to be established in order to generate more jobs anew.

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