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US President Barack Obama today asked American business leaders to aggressively pursue the huge middle class in India and China to increase their export, thus create hundreds and thousands of jobs in the country.
"The truth is, as countries like China and India grow and develop larger middle classes, it's profitable for global companies to aggressively pursue these markets and, at times, to set up facilities in these countries," Obama said in his address to the US Chamber of Commerce .
Obama said with the march of technology over the last few decades, the competition for jobs and businesses has grown fierce."The globalisation of our economy means that businesses can now open up shop, employ workers and produce their goods wherever there is internet connection," he said.The United States needs an economy that's based not on what it consume and borrow from other nations, but what Americans make and sell around the world. "We need to make America the best place on earth to do business," he noted."As a government, we will help lay the foundation for you to grow and innovate. We will upgrade our transportation and communications networks so you can move goods and information more quickly and cheaply."We will invest in education so that you can hire the most skilled, talented workers in the world. And we'll knock down barriers that make it harder for you to compete, from the tax code to the regulatory system," he said.
At the same time, Obama reminded the American corporate leadership of their corporate and social responsibilities."But as we work with you to make America a better place to do business, ask yourselves what you can do for America. Ask yourselves what you can do to hire American workers, to support the American economy, and to invest in this nation.
"I'll go anywhere to be a booster for American businesses, American workers, and American products. We recently signed export deals with India and China that will support more than 250,000 jobs here in the United States," he said. "We finalised a trade agreement with South Korea that will support at least 70,000 American jobs - a deal that has unprecedented support from business and labor; Democrats and Republicans. That's the kind of deal I'll be looking for as we pursue trade agreements with Panama and Columbia and work to bring Russia into the international trading system," Obama said.
Source
The Economic Times
US President Barack Obama today asked American business leaders to aggressively pursue the huge middle class in India and China to increase their export, thus create hundreds and thousands of jobs in the country.
"The truth is, as countries like China and India grow and develop larger middle classes, it's profitable for global companies to aggressively pursue these markets and, at times, to set up facilities in these countries," Obama said in his address to the US Chamber of Commerce .
Obama said with the march of technology over the last few decades, the competition for jobs and businesses has grown fierce."The globalisation of our economy means that businesses can now open up shop, employ workers and produce their goods wherever there is internet connection," he said.The United States needs an economy that's based not on what it consume and borrow from other nations, but what Americans make and sell around the world. "We need to make America the best place on earth to do business," he noted."As a government, we will help lay the foundation for you to grow and innovate. We will upgrade our transportation and communications networks so you can move goods and information more quickly and cheaply."We will invest in education so that you can hire the most skilled, talented workers in the world. And we'll knock down barriers that make it harder for you to compete, from the tax code to the regulatory system," he said.
At the same time, Obama reminded the American corporate leadership of their corporate and social responsibilities."But as we work with you to make America a better place to do business, ask yourselves what you can do for America. Ask yourselves what you can do to hire American workers, to support the American economy, and to invest in this nation.
"I'll go anywhere to be a booster for American businesses, American workers, and American products. We recently signed export deals with India and China that will support more than 250,000 jobs here in the United States," he said. "We finalised a trade agreement with South Korea that will support at least 70,000 American jobs - a deal that has unprecedented support from business and labor; Democrats and Republicans. That's the kind of deal I'll be looking for as we pursue trade agreements with Panama and Columbia and work to bring Russia into the international trading system," Obama said.
Source
The Economic Times
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