By Ziad P S United States of America is now very much close to announcing who will lead the country for the next four years. There is the Democrat Barack Obama and John McCain with Republican. The economic ideologies of both leaders are quite different. The economic policies that they are planning to implement after the induction as President have a decisive role in the world economy, particularly in global economic crisis.
Who will be the market friendly President? Is it Obama or Mc Cain? Both candidates managed to highlights their economic policies during their vote campaign. What impact did it have on the people can be known only after the election results are announced.
Indian economists expressed anxiety over Obama’s liberal economic policies that proposed tax cuts they said are not in favour of emerging nations like India, as that will hurt existing treaties including outsourcing with US. However, Obama has shown green signal to the nuclear deal with India. While Mc Cain’s capitalistic economic policies may provide more opportunities to India, they said.
Obama used to keep a distance from globalization issues. In his campaign materials, he said he “will fight for a trade policy that opens up foreign markets to support good American jobs.” This seems a contradiction in terms for many people who believe that foreign advancement comes at the expense of the U.S.
Meanwhile Mc Cain is very fond of globalization. He said in his campaign that 95 percent of the world’s customers lie outside U.S. borders and the U.S. should throw its weight behind rewriting global trade rules to benefit ourselves. He also pointed out in his campaign that U S should engage in multilateral, regional and bilateral efforts to reduce barriers to trade, level the global playing field and build effective enforcement of global trading rules.
On emigration issues Obama raised the questions against the more H1B visas and he had voted to reduce the number of visas issued to foreign workers. While Mc Cain backed the decision to provide more H1b visas to get best talent for American companies. Obama’s views on foreign policy has been welcomed more than McCains’s in India.
