Corporations can hire people with more advanced educational skills overseas just as they can hire much cheaper laborers overseas. You can live in America and have every job skill in the world, but if someone else in China has those same exact job skills and will work (and CAN work) for less, they will be the ones to get the job, because American corporations moved their businesses their specifically to take advantage of this cheaper labor force.
The consumer price index in China is much lower than in America...the cost of living less, so people in China can sustain themselves earning less than average U.S. wages. American corporations have been exploiting this situation for decades.
American corporations have been making record profits and by increasing the size of the Chinese labor force, they have also increased the size of the Chinese consumer force. They now buy more GM cars and trucks in China than GM sells in America. American workers are unemployed and can't afford to buy new cars. Their cars are being repossessed by the banks because they don't have jobs, which is sadly ironic.
American CEOs and the media is trying to tell the American public (and with the help of President Obama) that it's our educational system and lack of job skills that's holding America back in the market. But American companies are doing very well in the global market, just not in the U.S. market, because Americans no longer have the wages (jobs) to be the consumers they once were. Hence the term, "emerging markets"...meaning new people to buy all that crap that American companies are making in China and are always trying to sell to you on TV.
Outsourcing has been going on for decades, escalating just after the Viet Nam war when Chinese-backed soldiers stopped killing Americans GIs. Then American corporations shared technology with China - technology that U.S. taxpayers paid for, usually used first through research and development in the military and space programs - to open up "emerging markets" in China, India, South Korea, Philippines, and Mexico, etc.
Now if we need a TV, stereo, cell phone, or most other essential commodities, it's difficult to find anything that's made in America anymore. This country's economy is not based on manufacturing anymore, we have a "service" economy now.
Even if one were to acquire new skills (and re-train for "green jobs"), solar panel companies use taxpayer money to establish businesses and still go overseas!
Corporate stocks have continually risen since the March 9, 2009 lows almost two years ago. Apple (whose LOVES China!) is the first company ever in the world to be on track to break the $1 trillion market cap for any company, ever!
American corporations outsourcing jobs overseas is the NUMBER ONE problem for America's economic system. For every job sent abroad to enrich a corporate salary, two jobs are lost in America. It's a downward spiral.
Yes, we need to be more competitive and better educated, but that won't stop jobs from going overseas...even if every single person in America were Albert Einsteins. Not unless we worked for 75% less in our wages. As it is now the disparity between CEO salaries and their American workers are as high as 400-1. But if corporate America's CEOs hired ALL Chinese workers, their salaries compared to their Chinese workers might an average 1,000-1.
It has never been about Americans not having the skills, it has always been about corporate profits, and at any cost...even if it means destroying America's working-class and the demise of our country.
If Albert Einstein was still a young man and alive today, he would either be working in China or collecting unemployment benefits in America.
Albert Einstein on Economics and Employment
The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of evil.
If two factories produce the same sort of goods, other things being equal, that factory will be able to produce them more cheaply which employs fewer workmen - i.e., makes the individual worker work as long and as hard as human nature permits.
From this it follows inevitably that, with methods of production as they are today, only a portion of the available labor can be used. While unreasonable demands are made on this portion, the remainder is automatically excluded from the process of production. This leads to a fall in sales and profits. Businesses go smash, which further increases unemployment and diminishes confidence in industrial concerns and therewith public participation in the mediating banks; finally the banks become insolvent through the sudden withdrawl of accounts and the wheels of industry therewith come to a complete standstill.
In each branch of industry the number of working hours per week ought so to be reduced by law that unemployment is systematically abolished. At the same time minimum wages must be fixed in such a way that the purchasing power of the workers keeps pace with production.
Further, in those industries which have become monopolistic in character through organisation on the part of the producers, prices must be controlled by the state in order to keep the issue of capital within reasonable bounds and prevent artificial strangling of production and consumption.
In this way it might perhaps be possible to establish a proper balance between production and consumption without too great a limitation of free enterprise and at the same time to stop the intolerable tyranny of the owners of the means of production (land and machinery) over the wage-earners, in the widest sense of the term. (Albert Einstein, 1934)