Time for a new paradigm among newly developing countries. Workers - TopicsExpress

Time for a new paradigm among newly developing countries. Workers in previously underdeveloped countries have patiently endured low wages with the promise of better things to come. Now that things have indeed improved, workers are now expecting a fair share. But they wouldve been dislocated by new technology and has no opportunity for higher pay. Newly developing countries should manage this transition by updating workers knowledge and skills and investing in technical and formal ecuation. Otherwise, new jobs cant be filled while a surplus in manual and low-technology workers builds up. Its a recipe for social tension and a spoiler to whatever growth trajectory may be achieved.

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