Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. Earth Science News .




TRADE WARS
Obama mocks Romney over 'outsourcing' row
by Staff Writers
Durham, New Hampshire (AFP) June 25, 2012


President Barack Obama Monday mocked attempts by his rival Mitt Romney's campaign to shrug off reports the Republican's former firm helped ship US jobs to places like India and China.

Obama launched a two-day campaign swing in the battleground state of New Hampshire, which is effectively Romney's home turf, as he owns a holiday home in the state and was governor of neighboring Massachusetts.

Romney came under fire after the Washington Post last week reported that his former firm Bain Capital was an early pioneer in helping US firms relocate manufacturing positions to low wage economies overseas.

The president pounced on remarks by Romney campaign operatives that offshoring -- the sending of jobs overseas, and outsourcing -- the contracting out of certain jobs to outside firms -- are different.

The Romney campaign also argues that some jobs were created overseas in the first place, in efforts by American firms to expand in foreign markets.

"You cannot make this stuff up," said Obama.

"If you are a worker whose job went overseas, you don't need somebody trying to explain to you the difference between outsourcing and offshoring," Obama said.

"You need someone who is going to wake up every single day and fight for American jobs," Obama said, arguing that he would close tax loopholes so that firms would not benefit by sending American jobs abroad.

The Post report last week threatened to undercut into the Romney's claim that his experience as a venture capitalist equips him uniquely to create jobs in America's sagging economic recovery.

Citing documents filed with US regulators, the Post said Bain Capital, the firm Romney founded and headed for 15 years, invested in companies that led in establishing call centers and manufacturing facilities in other countries.

But Romney advisor Eric Fehrnstrom on Sunday defended Bain's actions and called the Post report "shoddy" journalism.

He used the example of Coca-Cola which he said used outsourcing to build plants in China for example, so they can sell soft drinks in the Asian giant's vast market.

"No American jobs were shipped overseas in any of the Washington Post examples that were cited by the Obama campaign," he said on CBS.

But the Obama campaign appears to be betting that in the heat of the campaign trail, when broad brush attacks trump nuance, voters will struggle to distinguish between outsourcing and offshoring -- and is trying to blur the line further.

Romney has repeatedly accused China of unfairly snapping up US jobs with its economic policies and charged Obama with being soft on Beijing over its alleged currency manipulation.

The Romney camp has also maintained that the customer support provided to US technology firms by the call centers overseas allowed them to sell products in those markets and create US jobs.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Chinese premier in Argentina on trade mission
Buenos Aires (AFP) June 23, 2012
Chinese Premier Wen Jibao arrived in Argentina Saturday on an official visit aimed at boosting trade with one of South America's top agricultural producers. Wen, slated to meet Sunday with Argentine President Cristina Kirchner, has been traveling across South America since a G-20 summit in Mexico last week, with previous stops in Brazil and Uruguay. He visits Chile after Argentina. Kirch ... read more


TRADE WARS
Eviction pits Haiti police against protestors

Population displacement during disasters predicted using mobile data

Japan sorry for not using US radiation map

Nearly 15 million people displaced by disasters in 2011

TRADE WARS
IT security problems shift as data moves to 'cloud'

Samsung eyes 10 mn mark for Galaxy S3 by end of July

ISS to Build Up Meteorite Defenses

Smartphones put writing on the wall for paid texts

TRADE WARS
NOAA: Gulf of Mexico 'dead zone' predictions feature uncertainty

Forecasters predict second-smallest Gulf of Mexico 'dead zone'

Turning down the dial: Ocean energy development with less sound

Chinese submersible aims for 23,000 feet

TRADE WARS
Melting Sea Ice Threatens Emperor Penguins

Arctic climate more vulnerable than thought, maybe linked to Antarctic ice-sheet behavior

Climate drilling in the Arctic Circle

Elephant seals help uncover slower-than-expected Antarctic melting

TRADE WARS
Nano-pesticides: Solution or threat for a cleaner and greener agriculture?

China's Bright Food to buy stake in Bordeaux wine broker

California winemakers tap into growing Chinese market

Trouble on the horizon for GM crops?

TRADE WARS
Afghanistan flash floods kill more than 30

Strong 6.6 quake hits Russia's Far East coast

Florida declares storm emergency

5.9 quake hits Indonesia's Sumatra: USGS

TRADE WARS
Once-violent Mogadishu now growing

More DR Congo soldiers desert ranks: mutineers

Nigerian leader sacks security adviser, defence minister

'I was shot for defying Kagame', says Rwanda's ex-army boss

TRADE WARS
'Brain-hacking' technology sought

Out of the mouths of primates, facial mechanics of human speech may have evolved

Google sets out to save dying languages

Adaptable decision making in the brain




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement