The Struggle to Dodge Deflation

Dodging deflation - at www.moneyweek.com - the best of the international financial media

The digitization of information and near-free international telecommunication mean it's now commercially feasible to shift large amounts of service activity from high-cost countries to low-cost ones with their abundance of young, highly-educated, adaptable workers, hungry to advance themselves.

According to Fortune magazine, China will produce about 3.3 million university graduates this year and India 3.1 million (all of them English-speaking). In engineering alone, China will produce more than 600,000 graduates and India 350,000 but the US will only graduate about 70,000.

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