Asia's Low Labor Costs Rewards
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In Europe, the small mom-and-pop shoe cobblers are asking the European Union to limit the import of shoes from Asia. Meanwhile, the large shoe manufacturers in the Europe are lobbying against limiting imports because they have outsourced the work to Asia and are reaping the rewards from low labor costs. What are your recommendations?
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Solution Summary
The expert examines Asia's low labor cost rewards they are reaping.
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Unfortunately the markets of Europe, like those in the United States and other places are capitalistic in nature and free market driven. However, quotas and other limits on imports are often put in place to help small entrepreneurs or to help a traditional product and this is a good place to start. Cobblers are an old tradition in many places throughout Europe. Protecting the markets and these craftsmen makes sense, up to a point.
The market will bear only a certain amount of nearly anything. That said, cobblers will sell less of a product because the shoes they make are done by hand and are usually more expensive with ...
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