Reply #35
In the discussion thread: India to take US visas complaint to WTO [View all]
Response to JDPriestly (Reply #33)
Thu Apr 12, 2012, 09:13 AM
leveymg (26,339 posts)
35. The US created GATS, and it's still US-based corps that benefit from it.
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Last edited Thu Apr 12, 2012, 02:07 PM USA/ET - Edit history (1) The major beneficiaries of GATS are big financial, accounting, legal, architectural and engineering services firms that have their global headquarters in the U.S. If the US closes its doors to protect part of its markets, they will have the doors shut on them around the world.
The end result would that many of these firms would relocate abroad, with a further loss of US jobs. This is probably not the consequence any of us desire. I agree that there needs to be a reengineering of overall trade, economic and industrial policy in the US, but I don't think that simply abrogating the WTO GATT and GATS is necessarily the place to start. |
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