Throughout the US presidential campaign I kept wondering why so many Indians were getting so irrationally excited over a possible US president who is indebted to the big labor unions which means protectionist policies to reward them which means bad news for countries like India that supply the US with goods and services. His opponent supported free trade which benefits countries like India.
In the meantime, many ignorant Indians kept demeaning President Bush, the most pro-Indian US president in recent history, who faced down the rest of the world to get India a unique nuclear agreement and has provided billions of aid to fight HIV/AIDS, TB and malaria in poor countries. Now we see the chickens coming home to roost: http://www.businessweek.com/globalbiz/content/feb2009/gb20090224_563564.htm?campaign_id=rss_daily Excerpt: Each year, the American government hands out 65,000 H-1B visas, and Indian engineers receive many of them. However, as part of President Obama's economic stimulus package, Congress passed provisions to bar any U.S. company that receives bailout dollars from directly hiring workers on these H-1B visas. In India, there has been a swift outcry. "This is just irrational protectionism," says Montek Singh Ahluwalia, deputy chairman of India's Planning Commission. "It makes no economic sense at all." [end of excerpts] Mario comments: Of course it makes no sense, Mr. Ahluwalia, just as most of Mr. Obama's economic stimulus plan makes no sense. Besides, India and free trade that benefits most Americans by keeping inflation low, don't stand a chance against his labor union supporters, who are part of his vote bank politics.
