Question

1. How have the low wages paid in developing country manufacturing operations affected the number of manufacturing jobs in the high-wage Triad countries? (The Triad refers to the three centers dominating the world economy until the late 1990's: the United States (US), the European Union (EU) and Japan (JP).
2. If higher wages in toy factories led to higher prices in the United States for toys, how would it affect the toy industry?
3. a. What can the companies do to ensure that human rights standards are upheld for works both inside and outside their home countries?
4. b. Do you think toy company executives – in Japan, the United States, and elsewhere - should take steps to ensure safety and welfare of factory workers in developing countries? Why or why not?

Answer 1

If higher wages in toy factories led to higher prices in the United States for toys, how would it affect the toy industry?

Industries are linked to each other when one industry buys from another to produce its own products. Each industry in turn makes purchases from a different mix of other industries, and so on. Employees in all industries extend the economic impact when they spend their earnings. Thus, economic activity started by the toy industry generates output in hundreds of other industries, often in states far removed from the original economic activity. The impact of supplier firms, and the “Induced Impact” of the respending by employees of industry and supplier firms, is calculated using an input/output model of the United States.If higher wages in toy factories led to higher prices in the United States for toys, then United states will manufactuer the toys in its own country.

What can the companies do to ensure that human rights standards are upheld for works both inside and outside their home countries?

Human rights protect you in your everyday life regardless of who you are, where you live and how you choose to live.If you work in the public sector, it's unlawful for your employer to violate your human rights.If your employer isn't a public authority you can't make a claim against your employer for a breach of your human rights.the companies should ensure that human rights standards are upheld for works both inside and outside their home countries by giving a proper infrastructure and guidelines to the business.

Do you think toy company executives – in Japan, the United States, and elsewhere - should take steps to ensure safety and welfare of factory workers in developing countries? Why or why not?

I think toy company executives – in Japan, the United States, and elsewhere are already taken necessary steps which has been given by their respective government and yes i will suggest that the company executives should audit the workings of toy companies to make sure that the safety and welfare of factory workers are followed.