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Macroeconomics 6: Trade & The Better Life
Planet Money Summer School
Columbia's Industry Is Like Roller Escates
With theo a pay so extraordinarily strong against the dollar, the cost of labor here is many times what it costs in a place like bangladesh. The better off columbia gets, the less sense it makes for global apparel companies to manufacture here. Columbia can no longer keep costs low enough. They have to offer something other than the lowest price - quality or innovative and higher end products. Making clothes for the global market will turn your hair gray.
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