India China And The Creative Economy – How to compete in the creative economy

Segment 1: India, China and the Creative Economy

  • Developed coutries need to stop focusing on the offshoreing (right-shoring) of work.  Offshoring is an issue:
    • Forrestor predicts that 3.3 million white collar jobs equalling $136 billion is wages will shift to low cost countries such as India, China and Russia by 2015
    • Wester Europe will loose 1.2 million white collar jobs during the same time persiod
  • India and China are moving beyon the simple “low cost” business model and preparing for the coming Creative Economy.  Why do I think they are getting ready?
    • China has increased their R&D investment to $136 buillion USD making it second in the world (just ahead of Japan)
    • China has doubled the R&D investment level as measured by % of GDP from 0.6% in 1995 to 1.2% in 2004.
    • So in absolute dollars and % of GDP, China is positioning itself to become the R&D leader
  • They will need to shift their focus from “left-brain” dominated careers (laywers, accountants, medical doctors, engineers).
  • The developed countries are ahead because of their willingness to support “right-brain” careers (performers, musicians, artists, inventors).
  • Is your job at risk?  If you answer YES to any of the following questions, you are at risk ..b
    • Is your job repeatable? (do the same thing such as close the financial books at the end of the quarter)
    • Can a computer do your job? (tax, medical diagnosis, etc.)
    • Can someone else do it cheaper? (be honest!!)
  • If you’re at risk, then you need to take the iniaitive and position yourself for the coming change.

Segment 2: Killer Questions Of The Week

  1. What economic shifts are happening in other geographies that create opportunities for my products and/or services?
  2. What changes do I need to make to my products and/or services to take advantage of these economic changes?

 

Segment 3: Closing Thought

“Education is only the ladder with which to gather fruit from the tree of knowledge – not the fruit itself”  Anonymous

“Formal education will make you a living.  Self-education will make you a fortune”  Jim Rohn

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