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1、92TheMcKinseyQuarterly2005Number3Sizingtheemerginggloballabormarket93SizingtheemerginggloballabormarketRationalbehaviorfrombothcompaniesandcountriescanhelpitworkmoreefficiently.DianaFarrell,MarthaA.Laboissière,andJaesonRosenfeldThetopicofoffshoringgeneratesextremedifferenceso
2、fopinionamongpolicymakers,businessexecutives,andthoughtleaders.Somehavearguedthatnearlyallservicejobswilleventuallymovefromdeveloped1economiestolow-wageones.OtherssaythatrisingwagesincitiessuchasBangaloreandPragueindicatethatthesupplyofoffshoretalentisalready2runningthin.Toal
3、argeextent,thesedisagreementsreflecttheconfusionsurroundingthenewlyintegratingandstillinefficientgloballabormarket.Muchastechnologychangeismakingitpossibletointegrateglobalcapitalmarketsintoasinglemarketforsavingsandinvestment,sodigitalcommunica-tionsaregivingrisetowhatis,ineff
4、ect,asingleglobalmarketforthosejobsthatcannow,thankstoIT,beperformedremotelyfromcustomersandcolleagues.Thenewlyintegratingnatureofthisgloballabormarkethasstrategicandtacticalimplicationsforcompaniesandcountriesalike.Informationandinsightaboutitaresparse,however,andexecutivesa
5、ndpolicymakershavelittleofeitherformakingthedecisionstheyface.Toprovidehelp1EricaKinetz,“Whowinsandwholosesasjobsmoveoverseas?”NewYorkTimes,December7,2003.2ManjeetKripalaniandJoseyPuliyenthuruthel,“India:Goodhelpishardtofind,”BusinessWeek,February14,2005.94TheMcKinseyQuarterly
6、2005Number3forgovernmentsandcompaniesinArticleataglancebothhigh-andlow-wageeconomies,TheintegrationofgloballabormarketsistendingtheMcKinseyGlobalInstitute(MGI)toproducewhatamountstoasinglemarketforjobsanalyzedthepotentialavailabilitythatcanbeperformedremotely.ofoffshoretalent
7、in28low-wagenationsandthelikelydemandforTodaythatglobalmarketissmall.Butasitgrows,itinservicejobsacrosseightofthethedemandforoffshorelaborfromthedevelopedworld’scompanieswillincreasinglyaffectwagedevelopedworld’ssectors(chosenratesandemploymentlevelsinthedevelopingasarepresen
8、tativecross-sectionofworld.theglobaleconomy):automotive(servicejobso
