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chungbukdo
Joined: 22 Aug 2010
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 Posted: Thu Jun 09, 2011 1:13 am Post subject: Esl in korea after american economic collapse |
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either the US is headed into another recession again when qe2 ends and that will mean higher unemployment, especially in the worse off states like california which is full of korean americans. Or bernanke begins qe3 which causes foreign creditor nations to sell offamerican treasury bills, leaving the federal reserve in a bind where it will eventually have to monetize the debt, creating very high inflation.
In either of these scenarios I would expect thousands of unemployed korean americans to move to korea on f visas. In the latter case they might be employed but facing higher costs of living. Earning in the korean won and paying back their US debt like students loans would be desirable.
In the event that tens of thousands of fvisa holders move to korea there will be a greatersupply of labor and thus lowered real wages. It might be hard for e visa holders to get jobs since the process for hiring an f visa holder is quicker and easier[/b][/i] |
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koreatimes
Joined: 07 Jun 2011
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Thu Jun 09, 2011 2:26 am Post subject: Re: Esl in korea after american economic collapse |
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| chungbukdo wrote: |
either the US is headed into another recession again when qe2 ends and that will mean higher unemployment, especially in the worse off states like california which is full of korean americans. Or bernanke begins qe3 which causes foreign creditor nations to sell offamerican treasury bills, leaving the federal reserve in a bind where it will eventually have to monetize the debt, creating very high inflation.
In either of these scenarios I would expect thousands of unemployed korean americans to move to korea on f visas. In the latter case they might be employed but facing higher costs of living. Earning in the korean won and paying back their US debt like students loans would be desirable.
In the event that tens of thousands of fvisa holders move to korea there will be a greatersupply of labor and thus lowered real wages. It might be hard for e visa holders to get jobs since the process for hiring an f visa holder is quicker and easier[/b][/i] |
Not likely. This is just fear-mongering (much like what happened when people from the Philippines and India were supposed to move here en masse and take our jobs). Or EngKey. Or any other of the many "doom and gloom" scenarios that have been posted on here.
2 reasons. The Koreans who moved overseas usually did so at huge personal cost. They are not likely to move back or want their children to do so. Many end up working at small stores or dry cleaners but stay...so living in the West is clearly more desirable than back in Korea.
And as we all know, school owners prefer the "Western look". There are plenty of horror stories on this board about Korean Americans who made the move back and found that it was not all that it was cracked up to be.
Keep in mind that a f-visa means freedom to change jobs with ease...not exactly what school owners and principals are clamoring for. |
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bobrocket
Joined: 26 Jan 2011
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| Posted: Thu Jun 09, 2011 3:11 am Post subject: |
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Just my thoughts but it seems easier to get a job with an F visa.
The tables seem to be turning, and it seems it's an employers market.
No immigration hassles, don't need to provide accommodation,
Hate to say it but American grads fresh off the boat are a dime a dozen.
A native English person that just turns up, works then goes home, now that's a different story.
I deal with a few different schools and their dream staff is American's that look pretty, lots of debt, will work cheap and just do what their told.
Now how many people are in that boat?
Just spent how many years at uni, can't find a job at home because your masters in whatever is not good enough(not everyone thou)
Just a little rant.....but as I said, just my thoughts. |
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Ramen
Joined: 15 Apr 2008
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| Posted: Thu Jun 09, 2011 4:00 am Post subject: |
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another great predicksion.  |
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Zanniati
Joined: 04 Apr 2011
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| Posted: Thu Jun 09, 2011 6:53 am Post subject: Re: Esl in korea after american economic collapse |
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| chungbukdo wrote: |
either the US is headed into another recession again when qe2 ends and that will mean higher unemployment, especially in the worse off states like california which is full of korean americans. Or bernanke begins qe3 which causes foreign creditor nations to sell offamerican treasury bills, leaving the federal reserve in a bind where it will eventually have to monetize the debt, creating very high inflation.
In either of these scenarios I would expect thousands of unemployed korean americans to move to korea on f visas. In the latter case they might be employed but facing higher costs of living. Earning in the korean won and paying back their US debt like students loans would be desirable.
In the event that tens of thousands of fvisa holders move to korea there will be a greatersupply of labor and thus lowered real wages. It might be hard for e visa holders to get jobs since the process for hiring an f visa holder is quicker and easier[/b][/i] |
Well, QE3 will come. We knew it would come when they did QE2. This really isn't a concern in my opinion. Most of the people that worry about this stuff are the ones that don't really know what The Fed does. Which I guess is good since that's what they're counting on.
2nd recession... yeah, maybe. Basically all the new numbers are bad. It's pretty obvious that nothing is working. TBH I dunno what they're going to do to fix it.
As far as E-2 VISA holders, I think we really have an edge by the sheer fact that (a lot of us) are white. I don't see that many people going back to Korea just to teach English either. I'm not sure the job market will really get to that point where people are fleeing the country. Maybe I'm too optimistic.
If you want to really worry, start worrying about the Chinese housing bubble. If that baby pops you wont be able to find a job in any country. |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Thu Jun 09, 2011 5:13 pm Post subject: |
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Why do you guys even care? If you're doing your job and improving your skills, you're going to beat the other candidates, no problem. Every time I've moved to a new job, I've gotten more money. Every time I've interviewed, I've had new skills or certifications to talk about.
Some kid who just graduated and has never been overseas - come on over, he has zero chance to compete against me for the jobs I want, and I won't be competing against him for the jobs he wants. So, who cares? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Jun 09, 2011 5:17 pm Post subject: |
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| If the American economy collapsed (big if), there would be no esl jobs in Korea. Why would Koreans blow money on learning the language of country with a collapsed economy? |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Thu Jun 09, 2011 5:23 pm Post subject: |
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| jvalmer wrote: |
| If the American economy collapsed (big if), there would be no esl jobs in Korea. Why would Koreans blow money on learning the language of country with a collapsed economy? |
Because the US economy is still about 4 times larger than the nearest competitors, China/Japan, English is the first or second language of nearly 2 billion people, the South Korean economy is tied to the American economy like laces in a shoe, because if the US economy fails, other economies are going to fail with it (a falling tide lowers all ships), because they are addicted to English like rednecks are to meth, need I go on? |
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