SM reader Laks Raghupathi sends us a link to an article in the May 30th European edition of Newsweek Magazine, titled The Big Squeeze. In it we see a yellow man, ostensibly representing a Chinaman, and a brown guy with a small red dot on his forehead. The brown guy appears to be squeezing the balls of the poor white guy (a.k.a. white-collared worker), as if all Americans and Europeans losing jobs are white. The white guy also appears to be wearing a bow-tie (what IS it with bow-ties?).
15 years after U.S. and European multinationals started shipping large numbers of manufacturing jobs overseas, experts are saying that the “second wave” of offshoring is at hand—and it promises to be bigger and more disruptive to the U.S. and European job markets than the first. In the years ahead, sizable numbers of skilled, reasonably well-educated middle-income workers in service-sector jobs long considered safe from foreign trade—accounting, law, financial and risk management, health care and information technology, to name a few—could be facing layoffs or serious wage pressure as developing nations perform increasingly sophisticated offshore work. The shift portends a dramatic realignment of wealth over the next couple of generations—valued by the U.S. consultancy McKinsey Co. at “hundreds of billions of dollars.”
I went over to Joel Elrod’s website to see his other work (which is quite good) and couldn’t find anything with this sort of xenophobic tone, which leads me to believe that Newsweek must have specifically commissioned this type of thing from him. Continue reading