and we are back with zanny minton beddoes, steve ratner, chrystia freeland and ken rogoff talking everything economic. steve you wanted to pick up on something ken talked about which is technology has been disempowering workers and favoring companies, but you wanted to add to that globalization. look at it through a slightly different lens. we can call it technological change but what i saw when i got into the auto work, i was not a manufacturing guy, is essentially the fact that companies can now source their labor anywhere in the world they want to, many countries, mexico, southeast asia, not just china, are efficient in the terms of the productive capacity of the workers give the example of gm and the mexico so when i was working on the auto thing, gm was paying about $55 an hour total costs for its workers. mexico paying $7 an hour. mexican workers were just as productive as the u.s. ones. if you go back to 2006 and
and we are back with zanny minton beddoes, steve ratner, chrystia freeland and ken rogoff talking everything economic. steve you wanted to pick up on something ken talked about which is technology has been disempowering workers and favoring companies, but you wanted to add to that globalization. look at it through a slightly different lens. we can call it technological change, but what i saw when i got into the auto work, and i was not a manufacturing guy, is essentially the fact that companies can now source their labor anywhere in the world they want to. many countries, mexico, southeast asia, not just china, are efficient in the terms of the productive capacity of the workers give the example of gm and the mexico so when i was working on the auto thing, gm was paying about $55 an hour total costs for its workers. mexico paying $7 an hour.