ira

The devaluation of the dollar makes for a more even playing field in the world economy. As foreign workers salaries go up in non dollar denominated economies, American workers salaries become more competitive.
The Hi Tech industry in Israel will be hurt the most. Many American companies have opened or bought companies in Israel because they got qualified workers at a discount to American workers. It means that in order for the Israelis to keep their jobs they have to contribute value beyond what it was before. That is more innovation and productivity.

Livni

in hightech its brainpower, not labour, so this sector is less effected, not more. the exporters cry about the low dollar, but when the dollar was nearly 5 nis, I didnt see them pay workers more from their profits, only themselves..

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ira

The big American Hi Tech companies came to Israel because of the cheap labor costs. They are also in India for this reason. Yes brain power has special value but Israeli engineers and programmers were never payed the same salaries as American workers. Now all of the Israeli workers in Hi Tech have received a 10% wage increase in dollar terms because of the devaluation of the dollar. I'm sure all of the big American companies will be looking at there new dollar costs.

[MakkabI]

http://www.ynetnews.com/articles/0,7...403877,00.html

[MakkabI]

http://www.ynetnews.com/articles/0,7...403851,00.html