How Barclay ABN Amro Takeover Deal Affects Asia

The merging banks will cut jobs in Europe. I think we will see more workers go on strikes in Europe despite it is a good excuse to merge and fire workers. More jobs will go to Asia, especially outsource to India. Singapore may get a slice of the influx jobs from Europe.

I guess this is what's happening... merge the banks, fire some people, transfer key people to work in Asia.

So why is this happening? Could it be the strong euro? Wages in Europe are definitely high when compared with India. Seems like not only Singapore faces low wage competition from India and China.

Still, I think we have a few more good years ahead before the next crisis comes.