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Mark · Site Admin Joined: 13 Nov 2007 Posts: 1052

No Rest For the Working Poor

http://americasmexico.blogspot.co.../06/no-rest-for-working-poor.html

Excerpt:

Globalization continues to break down its own myths, especially in developing countries.

In Mexico, the promise of more jobs withered shortly after NAFTA went into effect, when it became clear that displacement outpaced job generation. Now, its twin promise--that globalization would create better jobs and improve standards of living--has finally committed public suicide as well.

Ford and General Motors changes in their operations in Mexico. Ford announced a major investment in Mexico of over $2 billion dollars this week. Alongside the self-congratulatory remarks of industry representatives and government officials, was an interesting tidbit of information. According to an AP report, at the Ford plant to be expanded in Cuautitlan--on the outskirts of Mexico City where the cost of living has been going up sharply-- workers' wages would be cut in half from their current level of $4.50 an hour. Mexican union leaders stated that this was necessary to compete with China.