In: Economics
Please provide some real-world (numerical if possible) examples of outsourcing.
The United States yearly outsource a lot of Jobs to developing nations like India, China, and Philipines. Examples of such jobs are given below:
a) Call center: the USA and other developing countries outsource their customer service jobs to other English speaking countries like India and Philipines. As labor cost is very cheap in these countries it saves a huge amount of the companies sending jobs out.
b) Research and development: Companies like Microsoft and other high-end technological development firms outsource their research and development work to China and India. At these places, highly educated professionals are available at much lower wages allowing the company to maintain its competitiveness in the market.
c) Manufacturing: China became a manufacturing hub by exporting goods to the USA and European country. maximum of this manufacturing units work for the USA, outsourced from the US to China.