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Economy

Protectionism on the rise?

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(Update 31March09) Wells Fargo is saying they may cut foreign staff (source: marketWatch).

(Original) I was expecting Coca Cola’s proposed Huiyuan Juice acquistion go through, but obviously things did not turn out as I expected. While the free trade people in the US are upset by this, they should remember in 2005, the US congress shut down China CNOOC proposed buy of US oil company Unocal. Signs of more protectionism in the US (besides the anti-free trade measures in the stimulus bill, recent trade dispute with Mexico).

Debate on H-1B
On the other side of the pacific.

(Financial Times) BofA withdraws job offers to foreign MBAs; (Forbes) Chuck Grassley hurts America.

Durbin-Grassley anti H-1B bill; (Economy Times) Microsoft reply to the bill; (Seattle Times) Proportion of H-1B workers at Microsoft won’t change after layoffs.

A twist
Interestingly (on the other hand), I read from WSJ, that some people proposed encouraging the immigrants to buy houses in the US to prop up the slumping housing market. Seriously I do think this country could use more money/investments from the world.

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