Economic Recession: Obama's Steps for Economic recovery

In his latest speech in American parliment, President Barack .H. Obama has expressed his keen desire to bring his country out of economic crisis and combat unemployment. He is very much worried about his people loosing jobs and becoming unemployed.After great depression that occured last year, every country (perhaps China apart) is struggling hard, to keep itself economically safe. America can never be an exception.

Obama's plans For economic recovery

in his speech, Mr. Obama streed American Congress , to pass the bill restricting giving outsourcing works to other countries like India.he has stated," By this measure, we cannot get back the jobs alrready lost by 70 lacs of Americans. But atleast, we can stop further loss of 20 lacs jobs, which our people are going to loose in a short time. Now every one of 10 Americans is unemployed."

The bill, apart from restricting outsourcing, also proposes to spend $3000, as loan to small industries sector.He also plans to create more employment in the year 2010. But how, he has not eloborated it. He plans to invest more in training the emploees in skills, and quality production.

Doubling Forex exchange

He has also expressed his wish to double the forex exchange in next five years. But it seems he has no definete plan for that just now.

If indusry boosts up, it definetely pushes foreign currency trading ahead, in almost every country in the world,whose foreign exchange is connected to U.S. dollers. That further recovers American economy, as the doller values jumps further.

Wish to remain Super power.

In the same speech, Mr. Obama has further stated, that America wants to retain its 'Super power no.1' position.But it is better if he keeps himself off the ambitious plans like attacking other countries, encouraging war weapon industry, etc, in order to maintain this pseudo image. In the past, wars have costed much for America.

But Mr. Obama has also stated that he wishes to withdraw his forces from Afganistan, after training the native militery forces. That, if implemented, will be a good step.

Effect on India

Mr. Obama's this inetension has sent shivers in software industry in india. LArge part of its work conrtact is from U.S.A.Many of Indian software engineers may loose jobs or they may get less salary.On the otherhand, it may not be possible for software using comapnies to stop outsourcing to India, as they may not find suitable workers there, and the required work, if assigned to them, may be delayed very much.

Another contradiction

Eventhough Mr. Obama's decision sounds right from the point of vierw of saving employment chances in his country this decision has to be seen from another angle also. American government, since long, hes been urging other countries including india, to 'Open the doors and leave the bussiness chancces open to all'.It is by USA's pressure only the globalisation of trade, economic liberalisation etc, have come to existance. That has affected many other countries . These ideas have changed the age-old systems of living in those countries and made the life expensive.

But now the wheel has turned and acting like a boomerang. Now American government wants to impose restrictions on free trading. That may affect it in other ways in days to come.

It has to be seen and judged!

ALSO SEE

http://hubpages.com/hub/Shuoldnt-Indians-eat-good-food

http://hubpages.com/hub/---The-glory-of-GOLD

http://hubpages.com/hub/Top-ten-financial-institutions-of-the-world

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