Ricardo Hausmann
speaker
306 appearances
1 recordings
1 series
first heard Jun 2025
last heard Jun 2025
Ricardo Hausmann’s voice in public audio — every appearance, attributed to the second.
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Appearances
And everybody's better off because for those locations it's a step up.
For you, it's a way to save on on labor costs that you cannot afford in your country because you want to pay your workers very, very well.
And you can afford to do that because you have plenty of jobs for them in the more complex part of the value chain.
You don't need to hire them in the in the less complex part of the value chain.
So so there is a uh a world in which this is a process.
China is getting richer.
A lot of the things that are being done in China.
By the way, initially they were done on the coast and so now the coast has become too expensive.
They're moving to elsewhere in the country and to elsewhere in the region.
And you know, now there's more production in Vietnam, there's more production even in Cambodia, there's more production in in poor other countries simply because the Chinese worker is now too expensive.
So there's a a world in which this is just part of just a repetition of what happened in Japan.
But let me make an important point.
When a production is happening elsewhere, it might be happening in a country.
A good question is
Where does the knowledge that they're using come from?
Because what is happening in the world today is that the rich countries are becoming more and more concentrated in producing knowledge.
And then in order to monetize that knowledge, they need to put brick and mortar things that they prefer to put them in other parts of the world.
So Japan, for example, has come up with a lot of innovations and a lot of RD and a lot of patents.
But the way they monetize their patents is not by hiring Japanese workers that, you know, Japanese uh labor force is is declining and and so on, and they're at full employment anyway.
They monetize their knowledge by deploying that knowledge elsewhere with foreign direct investments and so on.
Showing 221–240 of 306 · page 12 of 16
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