It is going to be again the US or the economy heads to India, China?
Even Cisco is starting a huge setting up of a second head office in bangalore which will give 10,000 people jobs in India. Microsoft, IBM also want to move out of US if US restricts them with lot of policies.
China being the greatest and huge exporter of hardware, while chinese design the hardware and indians design the software the US going to consume.
There is such a mayhem and creating a mindset of all negative thoughts into the poor employees who work putting their hearts & souls and in the end they are shown doors by injecting new traumas like cost cutting, recession etc...
Major IT companies are starting to walk out of US due to their labor restrictions,tax terms etc..also there is a real factor
For example:
1. If you hire a US citizen - Annual cost is $100,000
2. If you hire a foreign worker - " " " $50,000
3. If you hire an offshore worker - $10,000
So this is factor which tends to move more project to countries like India, china & brazil..
Also India has the world's huge number of english speaking persons compared to other countries. You can see in recession also in Asia-pacific region India is giving the highest salary hike of 10.2%, while in US the unemployment rate is 10%, 21 banks going bankrupted, millions get laid-off but still it leads the economy chart with #1 (how is this possible is my question in my mind)...
There is a huge decrement in the number of applications received for h1 visas this year for 2010, indian students opting for US universities decreased by 9%...
Bail out, Investment Planning,Wealth Managers, Account Managers, Software Engineers, Human Resources etc... but no one can't do anything and there should be some approach to fight this recession....
Lot of failures are due to lack of communication, lot of problems are due to misunderstandings, the 150 years old Lehman brothers got bankrupted was the starting point and 21 banks in US in 2008 bankrupted, millions laid-off with double-digit unemployment rate etc.. but economists, Mr.Obama are sure this is a temporary and something sure is for permanent is on the way!!!
Stay Positive....
