I know that over the last 30-40 years many factory jobs or union jobs in the US were lost to outsourcing, and I know that today many car companies and other manufacturers get cheaper labor by opening factories in other countries. My question is, why did this all happen in one giant wave around the same time? Did some kind of law/regulation change to make this more doable for companies? Or is it just because the world became more globalized in general?
In: Economics
Because cost of labor suddenly increases in the western world. Also, lobbying made it easy an cheap to offshore it
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