Indophobia: Facts versus Fiction
US academics, journalists and entrepreneurs as also visiting senior officials from India have fed the American fears that Indians (and Chinese) are coming in large hordes to take away American jobs. Are they right? Economic Times July 27, 2005 FEAR has big eyes. So goes a Russian proverb. The truth of the proverb is nowhere more apparent than in the American fears that Indians (and Chinese) are coming in large hordes to take away American jobs. US academics, journalists and entrepreneurs as also visiting senior officials from India have consciously or unconsciously contributed to these fears. Harvard Professor Richard Freeman writes that had India, China and the former Soviet Union not entered the world economy in the 1980s and 1990s, the global workforce in 2000 would have been only 1.46 billion. The entry of these countries has added 1.47 billion workers and, thus, cut the global capital-labour ratio to 55 to 60% of what it would have been otherwise. Freeman concludes that this means substantially lower wages for American workers the next thirty years. Journalist Thomas Friedman of the New…
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