U.S. Chamber Head Endorses Offshoring

US Chamber of Commerce President Thomas Donohue is promoting overseas outsourcing of jobs as a way to boost the economy and even increase employment - a stance that rankles the flagging technology industry.

Donohue, speaking to the Commonwealth Club of California, said he believes exporting high-paid tech jobs to low-cost countries such as India, China and Russia saves companies money that they may use to create new jobs for Americans.
CEOs from Wall Street to Silicon Valley have embraced the theory, and the pace of offshoring has shocked statisticians and economists.

Donohue acknowledged the pain for people who have lost jobs to offshoring - an estimated 250,000 a year, according to government estimates. But pockets of unemployment shouldn't lead to "anecdotal politics and policies,'' he said, and people affected by offshoring should ``stop whining."

"One job sent overseas, if it happens to be my job, is one too many," Donohue said. "But the benefits of offshoring jobs outweighs the cost."

My comment: "We'll see."

More here.