Coca-Cola announced today that it will pump over $2 Billion dollars in new facilities in China. Coke is building a $90 Million dollar research and development facility that will develop new Coca-Cola products. Thus, the company’s new products of the future will not be created in America. Instead, Coca-Cola is going for the cheap labor found in China. The new research and development center is expected to employ atleast 600 people. With the other investments in China, the number of jobs created for Chinese workers will be in the thousands.
Coca-Cola has not announced new layoffs in the U.S., however I’ve followed stories like this one way too many times. And when a company announces new foreign outsourcing like this, it is usually only a matter of time (usually 6 months) before that company announces the elimination of U.S. jobs.
We are borrowing money from China and now giving them our jobs.