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In France only 3.4% of jobs lost in 2005 could be blamed on offshoring, though there has been a wave of factory closures more recently (see article).
A study last year by the Hackett Group, a Florida-based firm that advises companies on offshoring and outsourcing, produced similar results.
Although outsourcing was not as far advanced in Europe, especially in non-English-speaking countries, Forrester reported that spending on offshoring by European businesses was expected to increase from €82 billion (almost $100 billion) in 2002 to some €129 billion (about $156 billion) in 2008.
Plus, for every dollar spent on offshoring, the U.S. gets back $1.12 (and the global economy reaps another 33 cents), says a report from McKinsey consultants.
"It's a mistake to focus on offshoring and not having people on the ground," said Muller's colleague Zeid Ayer, special assistant general manager at CCB Principal (the name of the JV between Principal and CCB) who is based in Beijing.
"Investment banks have exhausted most of the returns from [outsourcing] IT and rote tasks," says Michael Henry, a senior executive at Accenture 's Capital Markets, which advises U.S. banks on offshoring.
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He announced a clampdown on offshore havens.
*Repealing the moratorium on offshore drilling.
Later exploration focused on offshore supplies along the Adriatic coast.
What are your thoughts on offshore drilling and exploration?
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