Doing business with the strongest nation.
One of the most noticeable features of the US election is the peace and orderliness that are present in almost all voting areas, something that Filipinos can learn lessons from.
One TV broadcaster observed that Philippines has tried to imitate almost every good thing about the United States, but one thing that is left untouched is the admirable election process of the Americans.
The cost of 2012 election as estimated by the Center for Responsive Politics, and as published by the News.uk.msn, reached $8.5 billion, making it the costliest election in history.Â Last election, $800 million was spent.
Economic Officer to the US Embassy-Manila Katy Bondy noted that the democratic process of America is indeed admirable.Â She even cited, together with the host of the morning show, that American politicians are gentlemanly in handling politics whether in victory or defeat.
When asked about what makes President Barrack Obama special that he has a worldwide following, Bondy said the President has â€œa great deal of charisma.â€
America holds the reputation as the worldâ€™s strongest nation.Â And as we all know, a lot of economies are greatly related to the strong American economy, gaining the recently concluded election a worldwide attention.
Business and Barrack Obama
As majority of the US population celebrates President Barrack Obamaâ€™s victory, industry leaders hold varying opinions on its effect in business.
It can be remembered that the Democratic Presidentâ€™s agenda centers on immigration reform (undocumented immigrants will be considered for citizenship), climate change, and job creation.
What alarms outsourcing capitals such as India is the stand of the Democratic Party in outsourcing of jobs.
The Democratic Platform 2012 reads:
â€œThe Democratic Party believes in insourcing so that America can out-build the rest of the world again. We want to cut tax breaks for companies that are shipping jobs overseas and for special interests, and instead offer tax breaks to companies that are investing right here in the United States of America, betting on American workers who are making American products we sell to the world that are stamped with three proud words: Made in America.â€
One of outsourcing chiefs in India said that Obamaâ€™s victory is â€œnot the best newsâ€ for the IT outsourcing industry.
Another outsourcing leader in India said they are happy with Obamaâ€™s re-election, but outsourcing remains one issue between economies.
Business Process Association of the Philippines (BPAP) earlier expressed its confidence that the victory of Obama will have a little effect on the growth of business process outsourcing in the country.Â According to Oscar SaÃ±ez, â€œEven if he promotes tax breaks, at the end of the day it is still the company who will decide.â€
iConcept Global President Marlon Owen Cruz likewise welcomed Obamaâ€™s re-relection, but expressed no fear about the not-so-good stand on outsourcing, saying he cannot fully control the global market.
"I believe that outsourcing capitals such as Philippines have a very competitive advantage. Remember that the slowdown of US economy is one reason why American companies opt to outsource. Also, the rewards from the US government given to companies for choosing insourcing may not be that attractive," Cruz explained.
Meanwhile, reports said that the Contact Center Association of the Philippines (CCAP) believes it is too early to conclude about the impact of this historic event on the industry.
Aside from the US, outsourcing clients come from Australia, Singapore, and United Kingdom.