Jobs Lost to India Aftermath 895

Kinda close. When govts participate in the currency market to inflate currency -it is like insider trading and it does catch up someday. Inflating a currency is like fooling the world. You can fool some people all of the time -the whole world for some time, but not the whole world forever. The easy way is for govts. to stop fooling the world -so that currency rates are in line with their purchasing power and that in turn reduces job shifta from countries with stronger currencies. The hard way is that unemployment shoots up and the bluff is called, for the dollar to crash vs the rupee. Choose your contagion -but forget about being able to sustain 5x Indian salaries for the same productivity as in India. And there is no such thing as going up the value chain to survive or maintaining a lock on any sensitive technologies. You don't need an H1b visa to acquire grey matter between your ears. People in India are as capable of doing good engg work without ever visiting the US.

The only way you can fix the system is by recognizing what causes job movements and how to dissuade employers from moving jobs (and not trying to confiscate their wealth or hoping that overseas workers will be so stupid that work will automatically return on account of failures -which is something from Alice's wonderland).

Profits accure to corporations -and economic health is what he refers to the health of the country.

Robert Rubin is the Chairman of Citigroup. He earns a $15m salary and if the dollar remains steady or appreciates -it helps the investment banking activity of his company. But that doesn't mean it makes americans compebreastive in a global job market. The rich have one set of priorities and the working clbutt another -or shall we say that the economic interests of the 2 don't necessarily coincide.

No -the US hands out inflated aka counterfeit currency to buy goods and services from these 2 countries. If they didn't have inflated currencies -these countries would have greater purchasing power and engineers in these 2 countries would be proviiding services to the domestic industry instead.

During the recession when the sky seemed to be falling on americans -India was the 2nd fastest economy on this planet (after China) and offshoring genereates only 2% of the economic activity in India. If the USD crashes, a lot more Indians will be able to afford hi-tech goods originating in the US -and that means the call centres providing services for US customers will now provide services for domestic customers and you will have lesser reason to call us parasites.

regards -kamal