Ray Dalio Quotes

Smart businesses do not look at labor costs alone anymore. They do look at market access, transportation, telecommunications infrastructure and the education and skill level of the workforce, the development of capital and the regulatory market.

There is no better form of trade a developing nation can engage in than to sell services provided by an educated population.

Digitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic activity (production, research, design, etc.) moved to any accessible country or region that had relatively inexpensive labor and human capital.

Fundamentally, where you have an industry in which labor is the primary cost, we can’t compete and probably shouldn’t.

By now, it seems as if everyone has already read Thomas L. Friedman's 'The World Is Flat: A Brief History of the Twenty-First Century.' It changed the way we think about global business, competitiveness and the implication for far-flung economies, governments, education and more.

The Philippines ranks among top off-shoring hubs in the world because of cost competitiveness and, more importantly, our highly trainable, English proficient, IT-enabled management and manpower.

In the end, robots do things that people can do. So there is a cost above which you can hire somebody to do it, and that bounds the opportunity.

You see, some non-Catholic friends of mine have questioned the depth of my faith because of the fact that I have a good education.

If you're a global company you are going to have jobs overseas. The reality is if we start taxing those jobs at a rate that makes them noncompetitive in those markets, the reality is that we're going to lose business.

Outsourcing is inevitable, and I don't think it's necessarily treating people like things.

Low-wage jobs have gone offshore. We need to innovate to stay competitive.

A lot of the economy is indeed being supplied by goods that are produced offshore. And much of the reason for that is societal.

Economists report that a college education adds many thousands of dollars to a man's lifetime income - which he then spends sending his son to college.

Shipping is so cheap that it makes more financial sense for Scottish cod to be sent 10,000 miles to China to be filleted, then sent back to Scottish shops and restaurants, than to pay Scottish filleters.

As skills and energy became more of a demand, people who didn't have skills just got left behind, got shuttled to the side. Education didn't keep up with their promise. Education didn't prepare them for this new world. Jobs went overseas.

No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.

A dynamic economy begins with a good education.

Japan can't get anything on the market very cheaply because it has a large, relatively highly paid workforce which you can't fire.

I invite you to leverage Serbia because we have talented young professionals who are multilingual, highly educated, and willing to work for competitive wages.

If you're going to have a satisfactory standard of living, you're going to have to be competitive in this world. And you can't be competitive if you don't have a good education.

The evidence is inarguable that Australia is becoming too expensive and too uncompetitive to do export-oriented business. Africans want to work, and its workers are willing to work for less than $2 per day. Such statistics make me worry for this country's future. We are becoming a high-cost and high-risk nation for investment.

Don't make such a big deal out of this trade deficit…. In the United States you cannot find anybody to produce such labor-intensive products and it will be more expensive if you were to import such products from other countries and the regions than China. Only China is in the best position to produce such products, and this is also beneficial to China because this has provided job opportunities to China.

A nation’s success in the global economy is not determined by the quantity of its natural resources, but by the quality of its human resources.

The people who are banking on Oriental trade are bound to be disappointed. The United States cannot compete with foreign countries until we can manufacture products at a lower cost, which means cheaper labor

In the matter of labor, whether common or skilled, the white artisan has no chance to compete with Orientals upon their own soil, or—except in the manufactures wholly depending upon the applied sciences—upon any other soil. White labor has never been able to compete on equal terms with Oriental labor.