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And the slow-coach economies of western Europe will also benefit, getting a welcome boost from a young, energetic and educated labour force to the east.These arguments are generous in spirit and probably sound.
Formal bureaucratic rules, specialization of functions, and close supervision proved suitable for disciplining and directing an immigrant and poorly educated labour force in factories geared to mass production markets.
A few countries Japan the most notable among them lacking natural resources but endowed with an educated labour force, opted for promoting new industrial production for export instead of import substitution.
Using the comparative advantages of a relatively inexpensive but educated labour force, well-developed infrastructure, political stability, and an undervalued currency, Malaysia has attracted considerable foreign investment, especially from Japan and Taiwan.
Governments invest in physical infrastructures – for example roads, schools, and defence – that have the character of public goods as well as in society's "knowledge base" consisting of a generally educated labour force and specific expertise in science and technology.
"The dire needs of education systems in low-income countries are an essential investment that, in the context of the financial crisis, will also reap immediate short-term gains by generating employment and building a skilled and educated labour force," the study argues.
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Hence, (hat {e}) and (1-hat {e}) constitute the manual and educated labour forces, respectively.
Next to its well-educated labour force, the soil is still Denmark's most important raw material.
Governments will be sorely tempted to protect workers, but a flexible, well-educated labour force is likely to fare best in the transition.
A representative of Ocean Sky Global, an apparel-service provider whose operations include exporting from ports in Cambodia, Hong Kong and Taiwan to major buyers in the West, including Adidas, Columbia and Gap, says they have their eyes on Myanmar's cheap, abundant, and relatively well-educated labour force.
There is every reason to believe that Japan's strategy for rejuvenating its economy will succeed: the country benefits from strong institutions, has a well-educated labour force with superb technical skills and design sensibilities, and is located in the world's most (only?) dynamic region.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com