In India, Obama unveils nearly $10 billion in export deals

Los Angeles Times ^ | 7 November 2010 | Christi Parsons and Don Lee

[Racehorse]

President Obama on Saturday announced a loosening of U.S. restrictions in trade with India and unveiled almost $10 billion in export deals he said could lead to 50,000 American jobs, as he moved quickly to show a laser-like focus on the economy after a bruising midterm election.

Although many of the agreements, including the sale of Boeing aircraft and General Electric turbines, have been in discussion for some time, Obama held up the deals as examples of the great potential for expanding trade and commercial links between the world's two largest democracies.

But as he launched a 10-day, four-nation Asia tour aimed at opening up foreign markets for U.S. goods, the president's remarks pointed up the challenges he faces trying to craft a vision for the global economy that will be palatable to both Americans and export-driven Asian economies.

Obama's task has been complicated by America's slow economic growth and high unemployment, which have not only cost him politically at home but weakened his hand on the international stage.

Although the president enjoys widespread popularity in Asia, his efforts to rebalance world trade have aroused suspicion in India and elsewhere. So has his tough talk on the outsourcing of U.S. jobs abroad.

"I want to be honest," Obama said at a business summit here with U.S. and Indian executives. "There are many Americans whose only experience with trade and globalization has been a shuttered factory or a job that was shipped overseas."

[. . .]

"It is a dynamic two-way relationship that is creating jobs, growth and higher living standards in both countries," he said.

But as the president debuted a message of globalization as a key to America's return to prosperity, he did not offer many specifics about how that might happen.

[conservativeimage]

It's America's fault.

Agreed. I blame the voters.

[Eldon Tyrell]

No a stupid person. A precocious 7 year old would see right through Obama.

Mine cried when Obama won.

[oldbrowser]

Obama's task has been complicated by America's slow economic growth and high unemployment

America's task has been complicated by Obama's meddling which has resulted in slow economic growth and high unemployment.

[the invisib1e hand]

Yeah! I actually heard "ABC's Ann Compton, at the White House" use "call center jobs" as an example of Barack's big score in India. I laughed so loud my neighbors complained.

On Obama's trip to India being "...a mission to increase trade which will result in significant job creation in the US...":

And we ought to be thankful that this cover story can't be true, because if it were, that would mean that it's come to this: the President of the United States going hat-in-hand to persuade a 2nd world nation to give us back the jobs we outsourced to it over the last 20 years. And it would mean that we've reached the point where we're supposed to celebrate the "creation" of 50,000 call-center jobs. Oh, my, how the mighty would have fallen, were the story true.