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SMT007-Oct2019

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18 SMT007 MAGAZINE I OCTOBER 2019 In 2004, I wrote a column titled "Global- ization: Technology, Jobs, Trade," which was published in the July issue of SMT Magazine. Amid the protracted and roller-coaster trade uncertainty between the U.S. and China, and the renewed debate on globalization, I thought a revisit on the topic was befitting. What has changed over the last 15 years? Where do we stand today? Is globalization undergoing a retreat or reverse course? Globalization was mind-boggling; the more I examined the subject, the more I revealed its complexity and intricacy. Many punchlines were thrown around by various media orga- nizations. But one thing was clear; we were facing a new world characterized by change, uncertainty, flexibility, choice, and opportu- nity. Today, we are facing yet another new world with no shortage of opinions, views, and positions. Nonetheless, some fundamen- tal principles and primary underlying issues behind the technology, jobs, and trade remain the same. For example, productivity and the compet- itiveness-driven environment continue to be relentless. For a given function, the productiv- ity level continues to rise sharply, and the num- ber of employees required to perform an equiv- alent function continues to decline. To produce more, with less manpower and lower cost, is every operation's goal. The ever-increas- ing demand for innovation incessantly inten- sifies. The shortage of engineering talent and the inadequacy in the pipeline of engineering SMT Prospects & Perspectives by Dr. Jennie S. Hwang, CEO, H-TECHNOLOGIES GROUP Revisiting Globalization: Technology, Jobs, Trade

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