NYT labels it the “iPhone Economy“, but truth been told this is not an Apple or iphone specific problem… In my home country this has been felt for as much as 3 decades as we saw the bigger manufacturing companies and their activities depart somewhere else, some people say it’s a globalization effect, oh well, reality is this, service based economies don’t generate anywhere close the number of jobs or value, than manufacturing ones, not just for the production of value out of raw materials, but as the video explain, also since the decline of manufacturing can lead to the loss of other kinds of cross-related jobs.

The accompanying article, although US centric, is a good to understand a few of the challenges posed by increasingly globalized (high-tech) industries.