Slave Wage Arbitrage bump for later.....
Economists use the term “global labor arbitrage” to refer to the tendency of manufacturing jobs to flow towards whichever country has the lowest wages per unit output at present and has reached the minimum requisite level of political and economic development to support industrialization. At present, many such jobs appear to be flowing towards China, though some that require command of English are going to India and the Philippines. In popular terms, this is referred to as offshoring. (Note that “offshoring” is not synonymous with “outsourcing”, which means “to subcontract from an outside supplier or source”, such as when a business outsources its payroll or cleaning. Unlike offshoring, outsourcing always involves subcontracting jobs to a different company, and that company can be in the same country, even the same building, as the outsourcing company.)