Washington: The US Chamber of Commerce has said the fears about outsourcing were "misplaced" and it found little hard data to support claims of an impending exodus of US jobs overseas.

"The American businesses are the most successful competitors in any market and that success has generated a standard of living that is the envy of many others," the Chamber president Thomas Donohue said yesterday (Apr 14, 2004).

"The alarms being sounded about the loss of jobs to foreign countries are motivated by political need rather than facts," he said.

"The US must be able to source around the world to stay competitive in the global economy and the business community will fight any attempts by our Government to restrict outsourcing," he said.

The US Chamber, in a report to members of Congress and the administration, noted the significant benefits to the US economy from foreign multinationals operating in the United States compared to the relatively small number of American jobs that are moved offshore.

Further, the report outlined the substantial benefits from America's leadership role in the worldwide economy.

The Chamber said critics of outsourcing often overlook the benefits and the jobs created when foreign firms open operations in the US.