• Describe the labor market processes that could explain this phenomenon. What happens when demand for cheap labor increases? What happens to workers who are supplying the labor as the market evolves? What happens to wage rates?

• Toward the end of the presentation the speaker describes a new, more productive and flexible manufacturing model, using “technological innovation” that “will create a huge macroeconomic shift.” (time stamp 8:50) Summarize this shift. If a transformation like were to occur, who would benefit? Who would be harmed? (Consider both U.S. and international businesses when considering these questions.) If you were running a large manufacturing facility, how would you detect a change such as this? How would you adapt? Give an example of an industry that you believe could be transformed by the use of cutting-edge technology. What would happen in the market over time as technological innovations were adopted?

Your powerpoint / paper should be approximately 3-5 minutes long and meet professional standards in terms of content. Your submission needs to be respectful and supportive in tone.