Asians Not So Thrilled About President Obama

by Stephan Tawney on November 5, 2008

Asians involved in the world economy, to be more specific. They’re really not so thrilled with the Democratic agenda as a whole.

Asian exporters looked closely Wednesday at Barack Obama’s trade stance, worried about the possible impact of his victory on Cambodian textile producers, Indian outsourcing companies and Korean automakers.

“He appears to be a protectionist,” said Chea Mony, president of the Free Trade Union of Workers in Cambodia, which has an export-driven textile industry. “I am quite concerned about that because most of our clothing products are exported to America.”…

Indian outsourcing companies — accused by critics of stealing U.S. jobs — have also expressed some apprehensions about an Obama victory.

“There are some apprehensions about protectionism being on the Democrats’ political agenda. We hope that’s misplaced and global trade and flows of goods and services will continue,” said Saumitra Chaudhury, a member of the Economic Advisory Council of Prime Minister Manmohan Singh and chief economist at the credit rating agency ICRA Ltd., a Moody’s affiliate in New Delhi.

Other analysts said that despite Obama’s pre-election comments, he was likely to follow the example of previous U.S. presidents and take a moderate line in office to preserve important trade relations with Asia.

“He may have talked tough, but based on past experience, that’s just a tool to win over voters,” said Qiang Yongchang, a professor at the Economy Institute at Shanghai’s Fudan University.

Yongchang is looking at Obama moving in the wrong direction post-election. Obama didn’t move to the far, protectionist left in order to win the election. He moved away from his far-left stance in order to pretend to be center. His rhetoric in the campaign was more moderate than he actually is.



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