Flashcards in Outsourcing Deck (6)
What is outsourcing?
Taking manufacturing or service jobs from high wage economies to lower wage economies
What are the consequences usually of outsourcing for the original country?
How does loss of jobs negatively impact the country?
Unemployment means their is less spending in economy, services close down
What does the closure of manufacturing companies lead to?
The closure of local suppliers - areas go into decline
Why are countries often ill equipped for certain jobs?
The high skilled workers have been outsourced