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Outsourcing US jobs to India

From Greece, Harry Papasotiriou expresses little concern about the outsourcing of US jobs to India:

"In spite of alarmist American views on the consequences of free trade, the American economy has been experiencing phenomenal productivity growth in the past two decades and has therefore experienced higher growth rates than its main competitors, which are Japan and Western Europe.

Yet the same "Japanophobic" arguments of the later 1980s are now regurgitated in new phobias regarding China and India. The American economy will begin to decline once its productivity no longer grows, and this is likely to occur with protectionism and other anti-competitive regulations that seek to limit trimming and downsizing of corporate labor forces that exceed what the competitive market forces allow for".

Fine, but what about downsizing the absurd salaries of the fat cats who play with the working mice before dispatching them into unemployment?

Ronald Hilton - 11.02.03