HSBC India’s Davis Says Wages Rising as Rivals Poach Bankers

“Many look at outsourcing as the ultimate evil in the U.S., but its beauty may lie in how it redistributes wealth globally. In fact, the continuous wage increases by Western companies to pay its workers in developing markets actually helps close the wealth gap between the two to levels not seen since before the Industrial Revolution. There are now one of two inevitable outcomes for many who’re having a harder time in America: Either move to a developing market and take a white-collar job (with a lower cost of living but potentially greater quality of life), or become employed locally by a foreign company from a country that we’ve historically deemed to be economically inferior.” — Rahat