Job Recovery Not Coming

India is beginning negotiations with the World Trade Organization to ease visa restrictions for Indian professionals. There is some deal-making going on in Geneva. These Geneva talks are a framework for advancing the “Doha Round” of negotiations.

You cannot find much information about these talks in the U.S. press, but by using Google, you can see that in countries throughout the world the Geneva negotiations are very big news. Typically U.S. news does very little reporting on these important trade negotiations.

If the deal goes through, India will lift barriers to farm products and services. In this case, services would include allowing our banks and insurance companies to operate in India.

Developing countries, led by Brazil and India , agreed to lower barriers to manufactured goods and to services.

Of course, the U.S. has to give something in return. In this case, the sacrificial lamb will once again be the American middle-class. India wants unlimited access to our labor markets - and American companies would consider that a very good trade!

If the proposal goes through, the existing quantitative curbs on the movement of Indian engineers, software programmers, scientists, accountants, and other professionals to the US will be removed. This will translate into cheaper labor and more lost American jobs.