Friday, December 28, 2012

American cruise line gifts billion dollar ship-building contract to French yard

Miami based Royal Caribbean Cruises, operator of some of the biggest cruise ships in the world, is on a building spree. And where are they building the new boats?

Some pathetic low wage country like China?

Wrong!

Some middle-tier industrial power like South Korea?

Wrong!

Some supposedly de-industrialized European high-wage country where pay and benefits outstripped those in America a generation or two ago?

Bingo!

How is such a thing even possible?

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