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00:00SOME OF THIS IS THE WORKERS, THERE IS A LOT OF THINGS HAPPENING IN THE PLAY FOR CENTURY ECONOMY. THEIR LEGAL RELATIONSHIP WITH THE BOSS HINGES ON THIS. >> LIMIT BUT ONE OTHER ELEMENT IN HERE. AMERICANS LIKE TO BUY THINGS AS CHEAPLY AS POSSIBLE. THAT REALLY DOES PLAY A ROLE HERE. IN EUROPE, YOU WILL FIND COUNTRIES THAT ARE WILLING TO MAKE A TRADE-OFF TO PAY MORE FOR SOMETHING AND IN RETURN THIS COMPANY WILL GET TO EMPLOY ALL OF ITS WORKERS OR DOES NOT HAVE TO LAY ANYBODY OFF. IN THE U.S., WE DO NOT THINK LIKE THAT. IF WE CAN GET SOMETHING THAT IS HOMEMADE AND INEXPENSIVE FROM CHINA AT WALMART, WE WILL DO IT READ EVEN IF THERE IS AN AMERICAN PROJECT RIGHT NEXT TO HER, WE WILL NOT BUY IT. THE FACT THAT THAT IS THE AMERICAN MENTALITY IS ANOTHER REASON IT IS HARD TO SAY LET US GO BACK TO THE OLD DAYS WHEN WE CAN PAY PEOPLE $20 AN HOUR. >> HOW CAN YOU CHANGE THE PSYCHOLOGY THOUGH? WHEN YOU LOOK AT AMERICAN PSYCHOLOGY, BRINGING THE PRICE DOWN IS WHAT AMERICANS WANT, THAT IS TAKING MONEY OUT OF FROM A WORKER. >> I DON'T THINK YOU MARKET A LIKE THAT. I THINK RATHER THAN SEE HOW WE BRING BACK JOBS AND LOOK AT OLD-FASHIONED INDUSTRIES WE NEED TO HIS SEE HOW WE CREATE JOBS THAT DO NOT REQUIRE A FOUR-YEAR COLLEGE AND HOW DO YOU CREATE AN ENTIRELY NEW INDUSTRY. IT HAS BECOME A PRETTY DECENT SOURCE AT THE MOMENT. THAT IS ONE EXAMPLE OF A NEW INDUSTRY THAT CAN CREATE JOBS EVEN AS OTHER INDUSTRIES ARE BEING CREATED. >> I THINK IT IS STARTING TO CHANGE, YOU CAN SEE HOW APPLE IS

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Qantas Earnings Decline 7.5% on Fare Competition

Qantas Airways Ltd.’s first-half earnings fell 7.5 percent as competition drives down international air fares. Bloomberg's Paul Allen reports in "Bloomberg Daybreak: Asia." (Source: Bloomberg)

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