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The other megatrend of our age, the rise of emerging markets, will also continue to put pressure on U.S. wages. According to Goldman Sachs, more than 70 million people in developing countries become middle-class consumers each year. That's great for us in some ways, because it means they'll have money to buy goods made by companies in the rich world. But it also means they'll have the skills necessary to do our jobs. A lot of Wall Street data crunching, for example, is now done in India, and the number of high-end strategy jobs in fields like consulting is increasing there too.