The AEA said that while the scale of offshore outsourcing was unknown, offshoring was just one element in the rapidly changing, increasingly competitive world economy.
It said that outsourcing was not the major cause of the loss of US jobs in recent years, and that other changes in the international marketplace posed greater challenges to the US.
The Association even gave a small history lesson to put the current outsoucing scare into perspective. It said that in the 1980s and early 1990s, the US was fearful that Japan was going to take over the world adding that It didn’t.
While some workers would undeniably be hurt by offshoring, the US would benefit from the practice on the whole, the AEA said. However, it continued, if Congress gave into demands for protectionist legislation, the high-tech sector, as the US’ biggest exporter, stood to lose the most.
This article is based on material originally published by ComputerWire
