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India’s exports are more diversified—both geographically and in terms of the products it sells—than its neighbors and competitors.

In this scenario, India has to remain focused on the challenge of elevated inflation.

India has become more financially integrated with the global markets than commonly thought. We saw this in 2008, when India’s financial markets came under considerable pressure and investment became the main transmission channel, dipping substantially. To give another example, India’s stock market is one of the most correlated in the region with the VIX, a measure of market expectations of near-term stock market volatility and hence a good indicator of global risk aversion.

inflation remaining above the Reserve Bank of India’s comfort zone.

shift the composition of budgetary expenditures away from untargeted subsidies (such as those on fuel and fertilizer) and toward infrastructure, health, and education will help in both dimensions

The strength of domestic demand was, in large part, India’s saving grace when the crisis hit.

n July, a total of 15 million U.S. workers were either unemployed, underemployed or too discouraged to job hunt, according to the Labor Department.

American jobs sent out of the country aren’t likely to return anytime soon. “As long as employers can take advantage of much lower labor costs in other countries, there’s no compelling reason to bring back many of these well-paying jobs,” says Ron Hira, an engineer and assistant professor of public policy at Rochester Institute of Technology. “Policymakers seem to be at a loss as to what to do about this problem.”

Ask anyone which sector of the U.S. economy comes to mind as the most likely to be shipped overseas, and chances are he or she will say manufacturing.

racing to outsource white-collar jobs—including work in computer sciences, engineering, entertainment, financial and medical services—to countries where workers earn far less.

Terry Antisdel was a Chicago-area engineering associate for Lucent Technologies Inc. and its predecessor AT&T for 35 years until his entire 42-member International Federation of Professional and Technical Engineers Local 81 was laid off in July. He figures his job will end up in India or China. “The words management used were a 'less-expensive offshore site,’ ” recalls Antisdel, who estimates Lucent will send a total of about 5,000 U.S. jobs offshore this year. “I feel let down,” he says. “Companies used to provide jobs for people, but now they’re just there to give money to executives, board members and shareholders.”

Multinational corporations are transferring jobs to countries where workers earn low wages and have few or no protections. And small U.S. businesses are laying off workers or shutting their doors because they can’t meet foreign competitors’ prices.

A Forrester Research study predicts U.S. employers will move about 3.3 million white-collar service jobs and $136 billion in wages overseas in the next 15 years, up from $4 billion in 2000.

The jobs already are leaving. By the end of this year, General Electric will have sent a total of 20,000 aircraft and medical research and design jobs to India and China, according to Business Week. And the Accenture consulting firm, which incorporated in Bermuda after splitting from Enron accountant Arthur Andersen, plans to send 5,000 accounting and software jobs to the Philippines in 2004, the magazine says.

Microsoft plans to eliminate at least 800 full-time call-center jobs near Dallas and shift the work to India and Canada in the next fiscal year. It would be the largest one-time firing of full-time Microsoft employees in the company’s history. WashTech says a Microsoft senior vice president recently urged company managers to “pick something to move offshore today,” though Microsoft publicly has repeated it will not lay off U.S. workers and send the jobs offshore.

Workers in low-wage jobs frequently are labeled as lacking skills and in need of training to move into better-paying positions. But while education is a traditional route to higher pay, Shulman contends no job is inherently low wage.

inexpensive high quality labor

I am an ex-banker with thirty-eight years in that field. My bank outsourced many jobs overseas.

crippling the future economy of the United States

the more we must depend on other nations for our goods and services

feel very strongly that it is important to our economy, whereas American workers, who are constantly losing their jobs, and retirement savings because of outsourcing, feel very strongly that we must put an end to it.

we leave vital data about Americans in the hands of people who do not have any laws against sharing it with others

fewer tax dollars in our system. This means that there will soon be “no tax revenues to fund our education, health, infrastructure, and social security systems”

urcing jobs in the medical and tax fields, we leave vital data about Americans in the hands of people who do not have any laws against sharing it with others (Dobbs 36). In the long run, by importing more than we export we are increasing the national deficit. According to Ro

“My government is helping Americans who have lost their jobs get new skills for new careers. And we're helping to create millions of new jobs in both our countries by embracing the opportunities of a global economy” (United States, Office of the Press Secretary)

Outsourcing can only be a success if each worker that loses a job in America is given a better job to do; because American workers are not being redeployed the outsourcing movement is unsuccessful (Hira). A lesson that we must learn from the Reagan administration is that it is not “protectionist” to set boundaries on our trade agreements. Our government must step up and protect our workers, regardless of how it looks in the eyes of the World Trade Organization; we must step up and demand this from our government

we must have high paying, advanced jobs in this country