Bush: No protectionism to safeguard offshored US tech jobs

Silicon.com
US President George Bush has ruled out any protectionist measures to safeguard US jobs that are under threat from companies outsourcing work overseas to countries such as India. On a visit to India last week Bush admitted that it is "painful" for those people who lose their jobs as a result of globalisation but he said the US rejects a policy of protectionism. In a free economy, every citizen has something to contribute. He said in a speech at Purana Qila in New Delhi: "It's true that some Americans have lost jobs when their companies moved operations overseas. It's also important to remember that when someone loses a job, it's an incredibly difficult period for the worker and their families." But he said the answer is to embrace that competition and the new opportunities it creates. more...