Offshoring

When news of the Dubai towers came over the pond, few wondered at the source of the financing. The Saudis have been looking for non-Western places to put their money since the 1970's. Global instability in world affairs means that Turkish and Saudi Arabian sheiks and sultans needed a place closer to home to plow their trillions into the landscape. Suddenly, business and construction contracts are open that are not predisposed towards American friendly companies.

But as the news fills the media with places like Yemen and Spain undergoing rampant construction booms, Americans should look to each other and ask, why is all the urban construction money and action happening abroad? Foreign growth leads that of the united States. Worse, the dragging down of foreign economies due to reliance on American aid and business contracts does not build a future that favors American business abroad.

When did American cities and American based business start losing the First World status as the skylines to watch? From Beijing to London construction booms have been filling skylines downtown with gherkins, abstracts, zigzags, and brushed aluminum scribbles. Funny, America used to e the region of expanding growth cited worldwide in city and neighborhood planning models. But with dropping home values, a surplus of homes on the market, and entire regions of communities falling victim to foreclosures, America may be taking a worldwide back seat to construction and city building.

Spain and Italy used to be neck and neck for second-world last places finishes, economically speaking. But the European Union has developed lots of previously unexpanding areas to rapid rebuilding and consumer change. Who would have guessed that lightning consumer markets and construction fortunes would be more possible abroad than in the united States? But developing economies abroad that shelter their own immigration work force with a credit economy can threaten the import markets American companies...