Kerry report: Economy 'threatened' by offshoring
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Presidential candidate's position paper calls for expanding a federal program to help tech workers hurt by offshore outsourcing.
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TORONTO - The prospect of a John Kerry victory in next Tuesday&#39;s US presidential election has some Canadian analysts worried that the country might have to contend with a more protectionist-minded neighbour and dominant trading partner.
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New report on offshoring points to greater acceptance among Australians.
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The International Monetary Fund (IMF) has debunked fears of job losses in industrialized nations due to outsourcing of services to developing nations.
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A pair of Forrester Research analysts gave CIOs a passel of advice Thursday on how to deal with the possibility of a U.S. economic recession.&quot;We are not predicting a recession, but we think its important for CIOs to be proactive, to get their businesses ready in case there is a recession,&quot; said analyst Andrew Bartels, who conducted the teleconference with colleague Alex Cullen.Their recommendations boiled down to a number of main themes: The right ways to cut costs, to work closely with CFOs, and to plan not only for the lean times but for the good ones that inevitably follow.&quot;Get close to your CFO. You want to be arm in arm with that CFO,&quot; Bartels stressed.Forrester said there is a 55 percent probability the economy will remain essentially stabilized, due to factors including U.S. exports boosted by a weak dollar. The firm projects a 35 percent chance the country will enter a shallow recession, and a 10 percent chance it will fall into a deep one.The analysts said to watch for two key warning signs: Gas prices rising above $4 a gallon and two or more consecutive months of non-farm payroll employment.If they haven&#39;t already, CIOs should prepare now by reviewing their portfolios and identify which projects could be postponed, cut, or cancelled, he said.&quot;If you&#39;re running things well, adapting to recession is easier,&quot; Cullen noted.The tradeoffs vary depending on the type of cut, he said. For example, delaying hardware purchases could result in increased service outages.CIOs could also try other tactics, such as renegotiating vendor pacts or enacting hiring freezes, according to Forrester. Such measures could antagonize business partners and overburden staff, they said.But those types of risks are mild in comparison to that posed by cutting certain types of &quot;low-hanging fruit,&quot; such as time and support for research and development.&quot;These things look like they don&#39;t have immediate payback, so the question is &#39;Why are we doing them when times are tight?&#39;&quot; Cullen said.Likewise, it would be foolish to pull money and resources away from architectural strategy, he argued: &quot;You&#39;re going to be impeding your ability to take a long-term view of IT investments. When the tap opens up again people are going to be creating silos ... and you&#39;re going to spend your time unwinding these things.&quot;&quot;The worst thing you can do as a CIO is get so focused on cuts that when you come out of a recession, your department can&#39;t take the business where it wants to be,&quot; Bartels added.Outsourcing IT may also look like an appealing option, but the analysts issued a stern warning against it as a quick fix.Large-scale outsourcing deals take a long time to close, for one thing, Cullen argued: &quot;This is not near-term savings. This is not 2008 savings.&quot; But outsourcing of a particular IT function could make sense, he said.The hot trend of the past couple of years -- SaaS (software as a service) -- is not necessarily a fitting remedy during a recession, the analysts argued. While SaaS vendors relentlessly tout the cost savings their offerings can provide, it would cost a lot more to rip and replace legacy assets with SaaS products, the analysts said. However, they added, SaaS might offer lower upfront costs for a new technology.
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The Chinese economy risks a hard landing, according to an International Monetary Fund report on China&#39;s economy published today.
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The chief executive of UPS Inc. said Wednesday that the country is at increased risk of falling into a recession and it's not clear when the economy will rebound.
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The fall highlighted concerns about weakness in the U.S. economy as economies abroad continue to expand.
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Tight oil supplies could leave the  global economy worryingly vulnerable for years to come, a  senior International Monetary Fund official said on Thursday.
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The managing director of International Monetary Fund said large economic imbalances caused in part by AmericaÂs trade deficit with China and others are a threat.
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Claims the UK is losing large numbers of white-collar jobs through outsourcing is overstated, a report says.
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U.S. News & World Report - HANOVER, N.H.&#8212;Contrary to President Bush's arguments in New York yesterday that the economy is going strong, the administration's economic policies have been a big failure for millions of Americans, says Democratic presidential candidate John Edwards. "They're not working," the former senator from North Carolina told U.S. News Edwards, interviewed while he was campaigning yesterday in New Hampshire, admitted that there has been economic growth but said there is also a "fundamental problem.  The positive fruits of growth are not being shared by the American people at large. ...
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Protectionist barriers such as visa restrictions may only accelerate the trend of U.S. companies outsourcing software development work offshore, according to IT market analyst Edward Yourdon in a book on outsourcing, scheduled for release October.
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Democratic presidential candidate John Kerry on Tuesday accused the Bush administration of failing to protect American jobs from unfair foreign competition after the World Trade Organization approved sanctions on &#36;150 million of U.S. exports.
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New data, including Treasury Department figures released Monday,  has stoked debate over whether overseas investors -- private individuals, institutions and government  banks -- are growingly dangerously bearish on the U.S.
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While media and political attention is on the threat of outsourcing, the reality is that outsourcing is a sideshow in a much larger event.
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The United States lost nearly 1.5  million jobs between 1989 and 2003 because of increased trade  with China, according to a report released on Tuesday by a  government watchdog committee.