November 04, 2004
Kerry Defeat Pleases Indian Outsourcing Firms
Senator John Kerry's defeat in the U.S. presidential election was greeted with joy among outsourcing firms in India.
According to the International Herald Tribune:
Kerry once referred to "Benedict Arnold companies" and chief executives that sent jobs overseas, invoking the name of a notorious 18th-century American traitor. He promised that as president he would end tax deferrals for companies that send work abroad.
Bush, in contrast, was largely silent on the issue. But members of his team, among them N. Gregory Mankiw, the chief economic adviser, and Treasury Secretary John Snow, have both defended offshoring as a form of free trade.
Read more: In India, outsourcing firms rejoice
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