but for business, the employee is worth his output, and cost of living considerations are irrelevant to a company that has global reach: many expensive Australian jobs can be replaced by cheap Bangladeshi jobs (take textiles for example)
advances in telecommunications make borders irrelevant, telecall centres were just the start
there will be mass export of jobs as faster and faster internet becomes available, the question is will this be offset by new industries and jobs in Australia?
when our textile industry was destroyed by tariff cuts in the 1980s the transition was painful but eventually it led to better macroeconomic outcomes (too bad for the affected workers though)... maybe this will happen again.
