Wednesday, April 1, 2009

In The Teeth Of The Economic Storm: Globalize!

Bob posted an Op Ed piece in to discuss off shoring and the global economic crisis. Several key points include: The global economic crisis has political and business leaders thinking defensively--increasing trade protection, pushing "buy American" provisions in major legislation, attempting to curtail the use of H-1B visas, the documents that allow highly skilled nonimmigrant workers into the country. The most prominent example of this bad trend is the amendment to the Troubled Asset Relief Program legislation, inserted by Sens. Grassley, Sanders and Durbin, that makes it nearly impossible for financial firms to hire talented foreign nationals--at least to work in the U.S.

The instinct among business leaders during crisis is often to do whatever is necessary to make the politicians and activists happy. This instinct is understandable. It's also wrong and ultimately destructive. This article generated quite a few responses. To investigate further please click on the above link.

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