The New Globalization Wave
When you see that white collar jobs are being outsourced to developing nations, you know it that we are entering a new globalisation era. During the 70s, 80s and early 90s developed nations saw gradual exodus of blue collar manufacturing jobs to developing countries. Many companies took advantage of the abundant low cost labor but in the mid 1990s companies started to recognize that the labour force in developing nations was skilled beyond just hammering and sewing. In the past 10 years, India has attracted thousands of IT jobs, making Bangalore the Silicon Valley of the developing world, customer support (call centre) and financial services jobs. Read Thomas L. Friedman's article Small and Smaller published in New York Times to find out what technological advancements made Globalisation 3.0 and the India miracle possible (free membership required).