In a recent speech, a U.S. government official stated, "The physical distance along a great circle from Wausau, Wisconsin to Wuhan, China is fixed at 7,020 miles... [However] One of the defining characteristics of the world in which we now live is that, by most economically relevant measures, distances are shrinking rapidly.... ''How will the "shrinking distance between the U.S. and China affect labor markets in the U.S.? Assume that wages for accountants are lower in China than in the United States. Does this mean that accounting jobs in the United States will be lost to China? Explain.