In China, some sectors have such a severe shortage of skilled workers, even China must outsource.
One example is the pilot industry.
A new private airline in western China, United Eagle Airlines, says they could not have got off the ground (pun intended perhaps) without foreign pilots.
Of course, pilots do not come by cheaply.
The going rate is about 800,000 yuan a year = $100K.
But, one official at UEA says, "although we need to pay them this salary, the overall cost is reasonable compared to paying for the training of someone from scratch."
China and India combined account for some 40% of the WORLD's supply of labor. But, many many, perhaps most of them are unskilled.
Sooner or later, the number of ready to go accountants, engineers, doctors and pilots that can be found in India or China is going to run out.
It looks like it will be sooner.
What do you think?
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