China and India – already braced to become two of the world’s greatest economic powers – are now expected to become two of its most important academic powerhouses.
What I am waiting for is for the business world to shift to Asia. Right now, blue collar jobs, tech jobs, and now even academic jobs, are moving to Asia, but it seems business people get to keep their jobs, for now. This drives the students to get business degrees. The typical argument to explain is that the markets are in the Western world. For how long?
On the other hand, how can we explain that with the hard time Asia is giving us, the unemployment rate remains very low in Canada?
The answer is that we are driven by the service industry. But can we sustain a service industry if the rest of the industrial backbone is in Asia? For how long?