From Thursday's Financial Times, page 2.
The U.S. government has vowed not to harm India's IT sourcing sector as it battles to create jobs at home in the worst labor market since the Great Depression of the 1930's.
(more below)
From the FT article:
Tim Geithner, US Treasury secretary, said during a two day visit to India that protectionist measures to prevent jobs from migrating outside the country would do more harm to the US than good. "We're not going to go down that path," promised Mr. Geithner. [ ... ]
He also said that the administration of Barak Obama, president, would not seek to curb the investments of US companies overseas as "our fortunes are tied with the world." There have been proposals to trim the tax privileges of US companies that operate internationally
IT outsourcing, which is heavily dependent on business from the US, is one of India's flagship economic sectors
My questions: What is the U.S. industrial and employment plan, moving forward? Is it just to make sure that outsourcing continues and to force the country into a low wage service job environment?