Outsourcing is a hot political
issue in the U.S. but there
are indications that the process is not just one way - of Americans losing jobs,
a topic that has worked its way into political campaigns since 2000, and moved in
increasing rage, particularly among labor unions in the US.
Economists or other people
believe that the issue was seriously overstated, and that the net effect has
been relatively small. Actually, economists argue that in fact as many as 30,000
jobs have been produced directly by Indian companies investing in the US,
for example, with a considerable multiplier effect beyond that.
The tally hardly shows up in US job counts,
even during the seven lackluster years of the administration of President
George W Bush, some 5.7 million net new jobs had been created by the end of
2007 in the US, with about as many as 7 million gained and lost each year. It
means that the 200,000-odd that disappear overseas each year hardly show up in
the employment tallies.
Study shows from Federation of
Indian Chambers of Commerce and Industry (FICCI), those top companies from India are actually making a positive impact on
the US
economy. Though it's not that big enough at this point, but it is growing and,
in addition to demonstrate the integration of the global economy, it holds
positive signs for the future.
In fact outsourcing is positive
for the larger economy, in that the reduced costs of production are passed on
to consumers or provide capital for additional investment, which also generates
jobs.
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