Posted on 10/09/2004 6:08:32 PM PDT by lelio
India will benefit more from the re-election of US President George W Bush, a strong votary of free trade, than the victory of anti-outsourcing Senator John Kerry in the forthcoming Presidential polls in the United States, US Senator Larry Pressler said.
''The outcome of elections could go either way depending on the mood of the people. But irrespective of the outcome, India will have a friend in the White House, and a stronger friend in George W Bush,'' he said at the NASSCOM CEO Forum last night.
''Bush would be more advantageous to India. He is not taking the old line of foreign policy. Bush is looking at Asia with a fresh approach,'' said the author of the Pressler Amendment that sought to curb Pakistan's nuclear programme.
The fundamental difference of approach of the two leaders is on outsourcing. ''Bush tries to be a free trader. He supports NAFTA, free trade with Mexico, China and possibly with Chile. Kerry, by necessity, is tied to the labour unions, which have been scared of outsourcing,'' said Senator Pressler, who is a member of the Infosys Board and also an advisor to Chrysalis Capital.
However, in either of them, Republican Bush or Democrat Kerry, ''India will have a friend in the White House,'' he said.
''It is always easier in politics to be against free trade.
Republicans and Centrist Democrats favour outsourcing, but the US media is biased towards Democrats, who oppose outsourcing, and this is unfortunate,'' said Senator Presser, the author of the US Telecom law of 1996 that opened up the sector and brought down costs to a level that has made outsourcing of business processes to India viable.
Bush has also said he was ''absolutely committed to building an enhanced, comprehensive relationship'' with India, and looks forward to working with Prime Minister Manmohan Singh.
Kerry, formerly a fierce defender of free trade, has now become a fiercer advocate for ''fair trade'' against the US President who has pursued free trade.
Pressler said the United States does not have enough young people to do the jobs that are outsourced to India. ''The unemployment rate in the US is only 5 per cent, comprising people who don't want to work and 2-3 per cent are temporary workers. We need outsourcing as well as immigration.'' ''Outsourcing creates more jobs in the US, cuts cost and increases efficiency, allowing you to put more money in business and development. It's good for social security and it's good across the board,'' he said.
In the long run, outsourcing creates more jobs in the US.
''Regardless of the election outcome, we are on the verge of much closer ties,'' Pressler added.
Indians are behind Bush, namely because opposition parties in Pakistan are behind skerry.
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How is that a conflict of interest? I don't need government policy or permission to outsource. I do it already. Outsourcing is an amazing benefit to our economy.
to be honest, Kerry really wouldn't do anything either.
only a sharp recession will force the politicos to look at this issue seriously.
for you perhaps, but not for private sector middle class people who are having to take lower paying jobs in the service industry.
you are no different then the farmer or the restaurant owner who justifies illegals coming across the border because you want cheap lettuce pickers or dishwashers.
Indians are behind Bush because they are one of the frontier Nations currently at War with Islam Fanatics. They know Bush will fight that war and Kerry will not. Bush isn't just good for India, he is good for the 95% of the world who do not see cutting captive heads off and torturing children as legitimate political discourse.
RINO Larry Pressler is no longer U.S. Senator and hasn't been since January 1997, having been defeated by Tim Johnson the previous November.
for you perhaps, but not for private sector middle class people who are having to take lower paying jobs in the service industry.
Actually, the Average service industry job pays better then the average manufacturing job. Lots of $9.50 an hour assembly jobs that the Pro-Kerry camp miss when they start talking down the Service Industry. Anyone got a link to the Post on the most recent wage study from the BLS for Ocean to read?
The "answer" to outsourcing is not more regulations or taxes, it's less regulation and less taxes.
Companies leave the US because of trade unions, onerous regulations, high taxes and a poorly educated workforce.
except that its tech and knowledge jobs that are going to India - not manufacturing. and service jobs don't come anywhere close to $70K software engineers. or $90K semiconductor engineers losing their job to an engineer in China.
don't bother posting any BLS links - I am on all these offshoring threads. I know what I see with my own eyes everyday at work, I don't need any mindless pie in the sky "surveys".
no, they leave because wages are 1/3rd offshore. there are no labor union issues with tech workers.
Wages have always been a fraction of what they are here offshore.
The SOLE purpose of a company is to maximize its profits for its shareholders. Companies do not exist to provide jobs.
If you don't like the fact that this or that company is outsourcing jobs, buy the company (or at least a controlling interest) and change the policy. That should be your only recourse.
Hi All,
Please dont panic on this outsourcing issue. The US gov. allows US companies to go invest abroad, and at the same time accept foreign companies to come to invest here in the US. On Friday Rush said that his studies show that because of the administration's policy, the insourcing job number is larger than the outsourcing one.
Please dont let Kerry and his team scare you with their false claims. More and more MNCs with high-pay jobs come to invest in the US.
keep it up. destroy the private sector US middle class, send them down the wage scale - and you will build a permanent majority for the Democrats, as these voters will elect people who will provide goverment programs they need to remain middle class - paid for by someone else.
its going to happen with health care very soon, because US corporations are dumping benefits by passing more costs to employees and eliminating retiree medical as fast as they can. in fact, don't be surprised if the Republican party is the first to jump on such a plan.
nonsense. we are losing entire industries, like semiconductors to china. we have one large aircraft company left. we would have lost autos years ago if not for import quotas and light truck tariffs - we got smart on that one.
The answer is less taxes, less regulation. Not more taxes and more regulation.
even zero taxes and zero regulations cannot equalize the wage differential. we all know that, so why post the same ideas again and again. there aren't 40 thousand dollars in US taxes and regulations on a 70K US tech worker, there is no way to make the 30K Indian worker un-competitive by cutting US taxes - unless you are arguing for corporate subsidies.
That's why a nation-state can't let them do whatever they want. We have environmental rules, slave/child labor laws, ect. Now we could get rid of thes to compete with the corrupt third world, but I, for one, don't want to live in the corrupt third world. If they want to use third world labor they can sell their products there.
I never said to do "anything they want."
Like I said, their SOLE purpose is to make a profit for their owner, not to provide YOU a job.
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