Posting questions received from registered participants for ACS Careers Industry Forum teleconference by Bill Carroll. Please share your thoughts on this discussion topic.
"What impact will China and India have on the US by 2015 and beyond? Please comment on the impact to the chemical and science communities."
The relationship is complex, but you have competing dynamics.
1) Outsourcing for inexpensive works replacement alone will decline as the best talent discovers it can command salaries that will not qualify as inexpensive. There is quite a bit of wage inflation and jobhopping now in those two countries.
2) More indigenous companies will nucleate and grow, developing products and selling them in the US.
3) Cross-border and regional hiring to satisfy regional needs will continue
4) As Lenovo acquired IBM, Chinese and Indian companies will acquire US companies (and vice versa)
5) The chemical industry grows as does GDP, or maybe a little more in developing countries. There will be big new markets for chemicals outside the US.
6) Students will still come to the US.
We now compete in a global market. That means we have to step up our game a little and engage if we want to grow.
By 2015 China and India will have come to overtake the US as global leaders in pollution and production. This will limit global supply of many commodaties that are necessary for human life. This will severely effect our society and limit jobs in our nation. This can only be overcome by limiting trade between these nations and the US.