Dear Colleagues,

A disturbing news item below, from ASEE this morning.  Globalization does have its down side for some nations – this is the reality our graduates will face increasingly in the future – we must combat it with innovation and entrepreneurship…

Arvind

Arvind Varma

R. Games Slayter Distinguished Professor

Head, School of Chemical Engineering

Purdue University

US Firms Cut 2.9 Million US Jobs While Adding 2.4 Million Overseas.

The Wall Street Journal (4/19, Wessel, Subscription Publication), in an article titled, "Big US Firms Shift Hiring Abroad: Work Forces Shrink at Home," reports that in the last ten years, US multinationals have cut 2.9 million American jobs, while hiring 2.4 million outside the US. The Journal notes that GE CEO Jeffrey Immelt explains the trends by arguing, "We've globalized around markets, not cheap labor. The era of globalization around cheap labor is over. Today we go to Brazil, we go to China, we go to India, because that's where the customers are."