Dislike Boeing's decision to follow Airbus and reengine its single-aisle product? You are not alone. Many analysts and commentators have expressed disappointment.

Is the aerospace industry on the cusp of a great wave that will shift work to low-cost producers in China? Or is offshoring a minor phenomenon being exploited by companies to win concessions from workers and local governments? Taking the former view is William C. Parr, a faculty member of the University of Tennessee's Aerospace Executive MBA program. He recently returned from a three-month stay in China, where he taught and conducted research on offshoring and Chinese management practices.

After two years of depression in the business jet market, it's natural to begin scanning the horizon for change. Unfortunately, there are few signs of a return to prosperity for what had been the best aviation growth sector in decades. The worst news concerns used aircraft availability and pricing. Reports show just over 2,000 turbine-powered business aircraft are on the market, out of a total fleet of about 13,300. Pricing also remains soft, with many airplanes selling at an average 20% less than their 2000 peaks.