The replies here are quite weird. How on earth does a decision to export products of U.S. companies become one where somehow India takes the jobs? This means more opportunities for American companies to export to India while previously the same orders would have given to European, Russian or Israel. All it does is to remove restrictions on U.S. companies from dealing with major Indian entities.
If India is shrewd, it will insist that things sold to it be made in India, even if by American companies. This is like what China does. The profits to America won’t be there, because the money will stay in India to protect it from punitive US taxes.
The replies here are quite weird. How on earth does a decision to export products of U.S. companies become one where somehow India takes the jobs?
You can’t possibly be that naive. China has picked our pockets for decades through tech transfer. They use the honey pot of ultra cheap labor to reel in our know how and industrial base and then replace us as the manufacturing center of high-tech equipment for the world. India is salivating to imitate their success and repeat the process. Once the US government rubber stamps things like export control on tech, the floodgates are open. Industry rushes over into the cheaper market, spends all their investment money on building the future industrial base overseas, and pockets the tremendous profit that the US political class handed to them. Meanwhile, our country dies the death of a thousand cuts.
“We are going to export our way into more jobs” has never worked because we can’t compete against near slave labor in other countries. This idea is a complete and utter failure. Go look at Detroit (the former heart of the American industrial base) on google maps, it is a wasteland. That is what happens when you ship your industrial base overseas. Permanent unemployment of 20% is here to stay because we have destroyed our economic base for short term profit. We are now the largest debtor nation vs largest creditor nation. This happened in 50 years thanks to “free” trade policies and a political class that cares more about their next big corporate donation for reelection than protecting the future of this country.