Losing that business to other countries would damage our national competitiveness, economic vitality, job creation and clients who want a choice of financial services.
Generally, a big order is accompanied by promises of job creation in the client country.
"With levels of production surging higher, and order books swollen by a further upswing in demand from both domestic and overseas clients, job creation accelerated to its highest for over three years".
As Cembalest puts it in the spring/summer issue of "On My Mind," a publication for JPMorgan Private Bank clients, "With job creation needs high and exporter profit margins already under pressure, it is not in China's self-interest to allow an even faster rate of currency appreciation.
Because this program utilizes existing employers who are supplementing their work forces in order to better serve their clients or customers, job creation can be rapid.
Construction firms have taken on staff for seven months in a row, the longest consecutive period of job creation for five-and-a-half years, as more confident clients give the go-ahead to projects.
The conventional wisdom has been that Mr. Obama's job creation plan "is likely to be dead on arrival," as one financial analysis group, Bank of America Merrill Lynch Global Research, wrote to clients on Friday.
Job creation has stalled.
