Of course, the jobs just aren’t in the U.S. Interestingly, they aren’t even in China. According to Forbes:
Intel Corp. inaugurated its largest chip assembly and testing factory Friday, part of a $1 billion investment in Vietnam that the company says will create several thousand skilled manufacturing jobs.
Yes, Vietnam. In Ho Chi Minh City, no less. Thirty five years ago, it was called Saigon and military helicopters were landing on the rooftop of the U.S. embassy to evacuate as many people as possible before the capital fell. Now, the chip in your next computer may be manufactured there.
Why Vietnam. Because, of course, China is too expensive!
Fast-growing Vietnam is seen by multinational corporations as an alternative to China as a base for low-cost manufacturing though it still grapples with frequent strikes, bouts of high inflation and low education standards.
Markets are global, even if your portfolio isn’t. Globalization is here and your portfolio needs to adapt.
