The Current Industrial Collaps
Since 1997, the Asian countries have been under economic crisis. The crisis greatly affected the lives of people because the costs of living increased and job opportunities lessened. In addition, the population continues to increase and that adds to the ongoing crises. This resulted in the labor force's demand of increasing their salary. However, most of the employers are experiencing financial difficulties that their demands were not granted. More business establishments closed because of increased production costs thus making their business no longer viable. More workers lost their jobs. The September 11 attacks in the United States worsened the current economic problems. Stiff competition, high-priced basic commodities, and high labor cost are the main factors that cause an industrial collapse in a worsening economy. The primary cause of an industrial collapse is the rigid competition among companies. Buyers look for new products with a high quality at a lower price. The quality of the products, prices, and services that go with it are the major factors affecting a company's survival; therefore, companies have to red
Indeed, this situation is considered to be endless. It not only affects the industrial sector but the workers themselves. With companies continuously closing, our economy will worsen. It will not attract other investors to open a business in our country; thus, it can create a bad image of our country. Personally, I consider the industrial sector as an important part of a country because this is where most of the people rely in order to survive. This can be considered as a major provider of jobs and main source of income. I recommend that there will be a reorientation of laws and rights of the workers and companies because it can lead to abuse of rights or power. There should be a control in forming unions or having strikes because its long-term effect can be worse than the current situation. It does not mean that having strikes is the best solution when a request to the management is not granted. I still believe that creating a dialogue between the management and the workers can solve the problem. Sometimes there are misconceptions and misinterpretation, which lead to misunderstanding between the management and workers. This problem is a challenge for the
Some topics in this essay:
Industrial Collapse,
industrial sector,
basic commodities,
economic crisis,
industrial collapse,
experiencing financial difficulties,
cause industrial collapse,
experiencing financial,
cause industrial,
labor cost,
management workers,
lower profit,
financial difficulties,
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Approximate Word count = 784
Approximate Pages = 3 (250 words per page double spaced)
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