For a long time many believed that there would be an automatic adjustment and counted on a rapid increase in the wages of the emerging nations, on our advances in technology and the costs of transport preventing disruption. But this reassuring analysis is out of date. – Laurent Fabius

The demographic weight of countries such as China and India exercise a massive pressure on our wages and salaries. They have accomplished massive technological advances and the revolution in information technology has reduced the costs of transport. – Laurent Fabius