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Publication Library Hong Kong has been an attractive jurisdiction for doing business for years. Many foreign investors decided to establish and operate their foreign companies ...
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Why is outsourcing bad for the economy?
Outsourcing actively eliminates certain types of jobs and actively changes the nature of manufacturing. Here are some reasons why outsourcing is bad for the economy. Companies actively outsource low-skilled manual labor to cheap labor or technology, actively resulting in the decline of towns and communities dependent on factories. Outsourcing actively attracts workers to non-critical tasks for their own country’s growth but with better pay. When cheap labor regions are depleted, companies may actively turn to technology, actively causing unemployment both abroad and domestically. Additionally, outsourcing actively contributes to pollution and carbon emissions.