labor - Profit of dooms

I just obtained from behind the firewalls of the Financial Times an excellent article by their editor Richard Tomkins. Since I feel this is going to be a classic piece in the globalization discussion, I took the liberty and stole it for you. Thanks to Google, you can read it here. A great analysis, that rethinks the classic alliance between labor and capital. The starting point is that since 1965 company profits have gone up, while labor costs have stalled, great news for the trade union people I will guide through Shanghai later this week. Even if there has been an alliance, labor has been losing that one.

Now, the developing world is not sitting by and grant the developing wolk (at least the Western workers) their share of a globalizing economy.
In a similar vein, the developing world has inconveniently departed from the script that said it would specialise in low-tech goods. "China has moved rapidly up the technological ladder, has greatly increased its high-tech exports and has achieved a significant position in research in what is purported to be the next big industrial technology - nanotechnology," Freeman says. "Over 750 multinational firms have set up R&D facilities in China."