US policy shift could hurt Philippine outsourcing sector: Moody’s
Tighter service outsourcing rules under the Trump administration could significantly impact the outsourcing industry in the Philippines and India, said Moody’s Investors Service.
The ratings firm, in its “Challenging Global Environment to Test Asia’s Robust Credit Fundamentals” report, said significantly reduced US engagement in global trade could threaten the country’s major trade and investment partners. It added that the US president vowed to increase trade barriers to protect US industries and labor markets from foreign competition and to renegotiate trade relationships with its biggest trade partners, including China.
Revenues from the business process outsourcing sector and cash remittances from overseas Filipino workers are a key source of foreign exchange for the Philippines.
Read more at Wellston Journal.
Related news
- POGOs drive office space demand in Philippines in 2019 · 12 Dec
- Retailer John Lewis Shifts Call Center Work To Philippines · 11 Dec
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
