Saturday, November 6, 2010
In India, Obama Pushes US Jobs
President Obama has unveiled a $10 billion plan to create new contacts for US exports to India. Obama claimed that India was the market of the future and this move was a "job strategy". This is an especially difficult move with the hug number of unemployed in the US. Obama ensure that this is the best move for the American and Indian people. The new contracts will create jobs and increase the standard of living for both nations. Republicans are in support but are skeptical of the Presidents actions due to failed plans to increase trade with South Korea, Columbia, and Panama.Can we really "Export Our Way to Stability" as Obama suggests in his New York Times Op-Ed?
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5 comments:
In relation to a previous article I posted about this-I believe that creating jobs in India through outsourcing especially in telemarketing sectors will help boost this export policy. The new jobs will create a new middle class who will then demand the imported goods. This will help both the US and India.
I agree, I like the idea of making the relationship with America and India a two-way relationship. If India is indeed going to be a dominant economic power in the future, I think it is important to establish our relationship with them early.
I agree with Tanvi. India and other nations similar to India are important for America's economy. Outsourcing our jobs to countries like this is crucial to American corporations for reducing prices and staying competitive on the global scale. The outsourcing of these jobs will help the Indian jobs market and will also help U.S. firms keep prices down and stay competitive. This will therefore benefit both the Indian and American economy.
I think in the short run, this will adversely affect the economy; however, in the long run, it should help build a better relationship between the two economies. In short run, this will result in the job loss in the U.S. market. There have been various debates regarding the "real cost" of outsourcing compared to domestic production. Although most debates have come to a conclusion that outsourcing is globally beneficial, it can destroy the job opportunity for many Americans.
I think the main point of the article is to promote trades between the two countries in which America can increase exports to India and thus create more domestic jobs. The idea of outsourcing is almost irrelevant to the point that made by President Obama. Even though American companies are outsourcing jobs from India is in fact not a good thing for the country, Obama hopes that it will promote imports in India and thus increase exports in the U.S and create domestic jobs
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