Thursday, March 26, 2009

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Second round of outsourcing .... ?

Last time there was a bubble in United states economy it gave birth to a Flat World as Tom Friedman would like to call, so i want to ask a question will we see a second round of outsourcing after economy bottoms up. Recently an article in Time described it as Rebirth of Outsourcing. Whether it will happen or not depends on when and how the economy recoveres itself from the mess. However this time i think that there will be outsouricng in more than one sector like Pharma,Finance,Banking etc, which were considered primarily "cannot be outsourced" U.S. jobs.

China and India are watching these developments very closely, and ready to pounce on every opportunity donated by US. This will force Barack Obama to impose protectionist policies on economy under heavy public outburst,resulting in chaos, however in the President's defence there is no other way than the will of his constituents. So will United States act impulsively or patiently after the crisis is over is worth a bet, but the bet i am going to put money on is the shift of large ammount of jobs to Asia( India is also in Asia) because that is where the market is and that is where the human resource is . I hope the young Americans will realise the necessity of giving themselves extra training skills to procure back these jobs.

America is going through a road less travelled, high recession,high unemployment , large deficits , outsourcing,ponzi schemes,ineffecient people in power, threat from terrorism, and a directionless economy. Nouriel Roubini the great Dr. Doom predicts today in that value of stocks are still going to fall which leads me to my previously asked question do the banking executives know really how much losses they have made in first place.

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