Global Report - 06-November-2008

http://www.instablogs.com/
India sees a new global crisis manager in Obama

Barack Obamas victory epitomises the journey of an African American to the White House. His victory has become a source of inspiration for a whole new generation. The results of US Presidential elections have raised both fresh hopes and reservations for the people across the globe. The democratic win may not sound like music to the ears of Indian BPO industry. Even though Manmohan Singh may have endorsed Obamas triumph nothing can disguise the fact that this victory will certainly have disturbing prospects for Indian outsourcing industry. Protectionism has been riding high on democratic political agenda. Obamas comments too have cleared the air in this context. The fact that he has pledged to include labor standards in free trade agreements can be seen as a means of shielding American companies from competition overseas. Tumbling shares of Tata Consultancy Services and Wipro combined with the cutbacks in outsourcing industry due to reduced spending by American financial services firms the going would be tough for this sector.

Brazilian economy booming in spite of global credit crunch

After a pause caused by the sudden crisis in the United States, the Brazilian real estate market should receive a new impetus because there are thousands of opportunities for investment in commercial, industrial and residential real estate. Only in Sao Paulo there are 755 buildings being constructed. Besides the fact that in recent years the return on these investments in Brazil overtook average of 26% annually, the fundamentals of the economy are very strong with inflation under control, lower interest rates and a surplus in government accounts. Of course,there may be a crisis in this sector in Brazil, but it would be for lack of investment, not because of credit problems, because the federal government has established lines of credit of billions to the builders and other business in real estate. The question is whether or not this pace will continue in the coming years.

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[nelsonj747]

Obama is a Globalist and as such there is NO WAY he will EVER protect American jobs. He will continue to export American jobs as did the man he followed into the WH