09-02-2006, 06:04 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->'Americans happy to lose jobs to India'
The Economic Times
Thursday, August 31, 2006
Washington - Americans may be complaining about losing jobs to
Indians through outsourcing, but a new study says it is a net plus for
them with the US getting at least $50 billion more through insourcing.
The US is also winning the global race for talent with immigrants
comprising 12 to 26 per cent of the workforce in key occupations, while
the nation maintains a low 4.8 per cent jobless rate, says the study
by the US Chamber of Commerce.
Overwhelmingly Americans benefit from the nation's openness to
trade, foreign investment, immigrants, and international
visitors, says the study, "Global Engagement: How Americans Can Win
and Prosper in the Worldwide Economy".
"The world's most open major economy is also the world's most
successful and envied economy, and that's no accident," said Chamber
President and CEO Thomas Donohue releasing the report.
"The free flow of trade, talent, and capital across our borders puts
money and pay cheques directly into the hands of American workers,
families, and small businesses.
That is why we must never retreat behind the walls of fear and
isolation no matter how tough the global competition becomes."
The study concludes that the US economy will prosper if the nation
reforms its legal, regulatory, health, and educational systems
while remaining engaged in international markets.
Further efforts to knock down trade barriers, develop domestic energy
resources, secure the borders, and stop intellectual property crimes
are also needed.
Although some Americans have been harmed by global competition and
deserve assistance, critics have wrongly blamed trade for the
concerns facing many middle class Americans, according to the
Chamber.
"Critics have yet to explain how closing markets would expand the
American dream," the report states.
Among the report's findings:
o Exports directly support 12 million US jobs and millions more
indirectly. Ninety-seven percent of all exporters are small and medium-
sized businesses.Â
o Imports benefit working and middle class families. Recent
tariff reductions have expanded the typical family's purchasing power
by $1,300 to $2,000 per year.
o Foreign investors directly employ 5.1 million Americans and
tens of millions more indirectly.
http://economictimes.indiatimes.com/arti...943676.cms
<!--QuoteEnd--><!--QuoteEEnd-->
The Economic Times
Thursday, August 31, 2006
Washington - Americans may be complaining about losing jobs to
Indians through outsourcing, but a new study says it is a net plus for
them with the US getting at least $50 billion more through insourcing.
The US is also winning the global race for talent with immigrants
comprising 12 to 26 per cent of the workforce in key occupations, while
the nation maintains a low 4.8 per cent jobless rate, says the study
by the US Chamber of Commerce.
Overwhelmingly Americans benefit from the nation's openness to
trade, foreign investment, immigrants, and international
visitors, says the study, "Global Engagement: How Americans Can Win
and Prosper in the Worldwide Economy".
"The world's most open major economy is also the world's most
successful and envied economy, and that's no accident," said Chamber
President and CEO Thomas Donohue releasing the report.
"The free flow of trade, talent, and capital across our borders puts
money and pay cheques directly into the hands of American workers,
families, and small businesses.
That is why we must never retreat behind the walls of fear and
isolation no matter how tough the global competition becomes."
The study concludes that the US economy will prosper if the nation
reforms its legal, regulatory, health, and educational systems
while remaining engaged in international markets.
Further efforts to knock down trade barriers, develop domestic energy
resources, secure the borders, and stop intellectual property crimes
are also needed.
Although some Americans have been harmed by global competition and
deserve assistance, critics have wrongly blamed trade for the
concerns facing many middle class Americans, according to the
Chamber.
"Critics have yet to explain how closing markets would expand the
American dream," the report states.
Among the report's findings:
o Exports directly support 12 million US jobs and millions more
indirectly. Ninety-seven percent of all exporters are small and medium-
sized businesses.Â
o Imports benefit working and middle class families. Recent
tariff reductions have expanded the typical family's purchasing power
by $1,300 to $2,000 per year.
o Foreign investors directly employ 5.1 million Americans and
tens of millions more indirectly.
http://economictimes.indiatimes.com/arti...943676.cms
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