Following a presidential election in which the word “outsourcing” became such a lightning rod, industry needs to do a better job of helping policy-makers understand the reality of today’s global marketplace, the central role American business plays in worldwide production and value chains, and the benefits of all this for our workers, consumers and small businesses at home.
Today’s most successful American companies share a trait: They invest, produce and hire from a dynamic, global perspective. The importance of demand from high-growth markets outside the U.S., and of worldwide supply chains in meeting this demand, can’t be overstated. The simple fact is companies that aren’t globally competitive over the long run will not employ any workers – in the U.S. or abroad.
What kinds of policies do our most successful global companies need to drive them to create and support more jobs in America? Some suggestions:
- Negotiate new trade and investment agreements to open new foreign markets for American exports and secure market access for U.S. companies.
- Reform our antiquated, nearly century-old business tax system to boost the competitiveness of all our companies on the global stage.
- Pursue education reform, to better prepare America’s young to obtain the high-paying, globally engaged jobs of tomorrow.
- Undertake immigration reform to expand the ability of skilled immigrants, especially those recently educated in America, to work in the U.S.
Although growth in dynamic emerging markets is a virtual certainty, our response to it isn’t. Either we choose to embrace the global economy and enhance our ability to compete in it, or we choose to turn our backs on the world, and fall further behind. Business must help our leaders understand the importance of making the right choice for our future.