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From: Tariq Siddiqui <[EMAIL PROTECTED]>
| --- Mario Goveia <[EMAIL PROTECTED]> wrote:
|
|> [...] The US has gained far more jobs from foreign companies in the US than the jobs that have been outsourced, many to India.
|> And where are the statistics to back this argument?
Tariq,
Here are some statistics, and a response to another comment made by you follows:
~ *
~ U.S. subsidiaries employ 5.4 million Americans.
~ * U.S. subsidiaries support an annual payroll of $307 billion and pay, on average, 31% more than all U.S. companies.
~ *
~ U.S. subsidiaries heavily invest in the American manufacturing sector. 34% of the jobs at U.S. subsidiaries are in manufacturing -- more than double the proportion of manufacturing at all U.S. companies.
~ *
~ U.S. subsidiaries manufacture in America to export goods around the world -- accounting for over 20% of all U.S. exports.
~ * New foreign direct investment (FDI) in the U.S. totaled $39.9 billion in 2003.
~ * In 2003, U.S. subsidiaries reinvested $38.6 billion in their U.S. operations.
~ * U.S. Subsidiaries have spent $27.5 billion on U.S. research and development activities.
| In any case, your argument is one that is deeply flawed. Toyota and Honda have set
| up factories in the US to meet the demand of the US market. They are not building
| the factories here to export cars/trucks back to Japan.
So? What difference does it make *economically*? They are foreign companies with excellent products, they've created jobs in the USA and offer great value for money thereby helping the US consumer keep more money in his pocket and keep a few million Americans off the unemployment rolls. It is also worth noting that many Indian companies have returned the favour of outsourced jobs by employing Americans in their US-based operations.
If you've been listening to talk about "unfair balance of trade", you might want to read _Applied Economics_ by Thomas Sowell.
| -Tariq
Peter D'Souza
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