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Q. So far here is what I got, let's keep this real.
- Cheap labor
- Poor regulations
- Strong intellectual property rights
- Low taxes (<10%)
- off shore banking
What else?
- Cheap labor
- Poor regulations
- Strong intellectual property rights
- Low taxes (<10%)
- off shore banking
What else?
Answer
Investors are interested in locations where:
1. They can feel that the bar of entry to a given industry isn't ridiculously high (e.g. you need to hire 25 lawyers in your company before you can attempt to build and sell an electric car)
-> LOW REGULATIONS
2. They can feel that what they build will be theirs to enjoy (e.g. no government or mafia there saying - we'll take half of what ever you build because we need it the cash to go attend the next G20 photo shoot really it's extremely important I go there with my wife and kids)
-> LOW TAXES
3. The social structure set into place ensures that what has your name on it - remains yours to keep. I.e. the legal infrastructure is set such that nobody can come and easily steal "material stuff" from you.
-> PROPERTY RIGHTS
4. The rules that are set are there to stay and no-one can show up suddenly and decide otherwise or go retroactive and say ooops, know what, effective 5 years ago, every factory built on land XYZ is not allowed to engage in solar panel production
-> THE RULE OF LAW
Besides (if I may):
* The US paid the greatest salaries in the world for two centuries and attracted loads of FDI and the guys invented everything (the guys could say let's go for electricity and boom, there it was, in all houses, sure right now, what next, water, same thing, over night, want a car, sure, what, want to fly, there you go, airplanes, what else, walk on the moon, my of course why not - etc etc)
-> CHEAP LABOR is not a factor usually. Actually the cheaper the labor the lower the skills of the people you higher and the more mistakes and troubles you are likely to have with your problems so it may be counterintuitive but CHEAP LABOR is not in the list.
* Strong intellectual property rights are ALSO not on the list, and are not to be confused with "Property Rights". To this effect I can recommend a very recent video found on YouTube by Kinsella called "How Intellectual Property Hampers Capitalism"
-> STRONG IP RIGHTS are not a factor either
and you just need to look at how the world works today, every penny is running towards China today where the guys are allowed to just build and invent and try and test and here's bread, and here's bread with raisins, and here's bread with raisins and chocolate, etc etc - whereas the countries with Microsoft complaining every other day about no this "idea" is mine and no this was my "idea" etc tend to usually trap capital and impose delays on the speed at which a society moves into the future so people need to be quite careful with IP rights. More URLs I can recommend in the below lines.
Hoping this helps & good luck. Read everything you can find on www.mises.org.
Investors are interested in locations where:
1. They can feel that the bar of entry to a given industry isn't ridiculously high (e.g. you need to hire 25 lawyers in your company before you can attempt to build and sell an electric car)
-> LOW REGULATIONS
2. They can feel that what they build will be theirs to enjoy (e.g. no government or mafia there saying - we'll take half of what ever you build because we need it the cash to go attend the next G20 photo shoot really it's extremely important I go there with my wife and kids)
-> LOW TAXES
3. The social structure set into place ensures that what has your name on it - remains yours to keep. I.e. the legal infrastructure is set such that nobody can come and easily steal "material stuff" from you.
-> PROPERTY RIGHTS
4. The rules that are set are there to stay and no-one can show up suddenly and decide otherwise or go retroactive and say ooops, know what, effective 5 years ago, every factory built on land XYZ is not allowed to engage in solar panel production
-> THE RULE OF LAW
Besides (if I may):
* The US paid the greatest salaries in the world for two centuries and attracted loads of FDI and the guys invented everything (the guys could say let's go for electricity and boom, there it was, in all houses, sure right now, what next, water, same thing, over night, want a car, sure, what, want to fly, there you go, airplanes, what else, walk on the moon, my of course why not - etc etc)
-> CHEAP LABOR is not a factor usually. Actually the cheaper the labor the lower the skills of the people you higher and the more mistakes and troubles you are likely to have with your problems so it may be counterintuitive but CHEAP LABOR is not in the list.
* Strong intellectual property rights are ALSO not on the list, and are not to be confused with "Property Rights". To this effect I can recommend a very recent video found on YouTube by Kinsella called "How Intellectual Property Hampers Capitalism"
-> STRONG IP RIGHTS are not a factor either
and you just need to look at how the world works today, every penny is running towards China today where the guys are allowed to just build and invent and try and test and here's bread, and here's bread with raisins, and here's bread with raisins and chocolate, etc etc - whereas the countries with Microsoft complaining every other day about no this "idea" is mine and no this was my "idea" etc tend to usually trap capital and impose delays on the speed at which a society moves into the future so people need to be quite careful with IP rights. More URLs I can recommend in the below lines.
Hoping this helps & good luck. Read everything you can find on www.mises.org.
Is engineering a dead end career now?
Jim M
Excluding Civil or mining engineers is this career a thing of the past for America? I'm talking about engineers who make a product thats why I left out civils and mining or urban planning. I'm talking about Electronic designers, mechanical products, biomedical, optical etc those that in some way make something. Each yr we make less and less in this country. Seems like all the jobs are in support or services. EE unemployment was 8.5% according to EE times. Are engineers the new world migrant workers?
Answer
I am trying to figure out if this is a troll question or you are a disgruntled engineer.. or if you are legitimately interested in hearing an answer.
Engineering is absolutely not a dead-end career. But it's probably more competitive since our global economy has opened up the borders in the employment market.
We have been strong-arming kids into engineering based on their standardized scores and math grades for decades now. Kids that don't belong there, because they don't have the mindset of engineers or the least bit of enthusiasm for engineering. We promise them big salaries and easy employment with lots of great benefits. But that just isn't true. There are plenty of jobs out there that get better salaries with less training and effort. Engineers job-hop as firms go in and out of business, and contracts get created and killed.
Fact is, since the market is flooded with foreign college graduates who weren't raised with the feeling of entitlement that many Americans have, it's just gotten more competitive. You can't just sit down at your desk and reap a paycheck anymore. Electrical engineering jobs are everywhere. I got snapped up out of school despite completing my BS at 37 with a GPA of 2.9. I've been given seductive offers from competitors. And we will never quit using electricity, so our power infrastructure will be hiring engineers for a long, long time. Look at what's happening with wind power and electric cars right now.
Salaries have taken a big jump since the economy started to show signs of recovery.
If I had to speculate, I'd say that that 8.5% was made up of people who are some combination of upside-down on their mortgage, unwilling to relocate, unwilling to get certified in a new discipline or advance their education, mediocre performers, and people who are just not enthusiastic about the job they years and thousands of dollars of tuition preparing for.
I am trying to figure out if this is a troll question or you are a disgruntled engineer.. or if you are legitimately interested in hearing an answer.
Engineering is absolutely not a dead-end career. But it's probably more competitive since our global economy has opened up the borders in the employment market.
We have been strong-arming kids into engineering based on their standardized scores and math grades for decades now. Kids that don't belong there, because they don't have the mindset of engineers or the least bit of enthusiasm for engineering. We promise them big salaries and easy employment with lots of great benefits. But that just isn't true. There are plenty of jobs out there that get better salaries with less training and effort. Engineers job-hop as firms go in and out of business, and contracts get created and killed.
Fact is, since the market is flooded with foreign college graduates who weren't raised with the feeling of entitlement that many Americans have, it's just gotten more competitive. You can't just sit down at your desk and reap a paycheck anymore. Electrical engineering jobs are everywhere. I got snapped up out of school despite completing my BS at 37 with a GPA of 2.9. I've been given seductive offers from competitors. And we will never quit using electricity, so our power infrastructure will be hiring engineers for a long, long time. Look at what's happening with wind power and electric cars right now.
Salaries have taken a big jump since the economy started to show signs of recovery.
If I had to speculate, I'd say that that 8.5% was made up of people who are some combination of upside-down on their mortgage, unwilling to relocate, unwilling to get certified in a new discipline or advance their education, mediocre performers, and people who are just not enthusiastic about the job they years and thousands of dollars of tuition preparing for.
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Title Post: How can a poor developing country encourage foreign FDI?
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