Delegates to the World Economic Forum in Switzerland have called for quick action from Washington, but a "made in America" provision rankles some.
A hot topic of conversation at the World Economic Forum in Davos this week has been the $819 billion U.S. stimulus package backed by President Barack Obama, which has been approved in the lower house of Congress. In the plan, there is a provision that the billions of dollars in infrastructure projects must use steel and iron produced in the United States, an approach which does not sit very well with many free-market politicians and business leaders assembled at the Swiss resort.
In this video clip, the Indian Commerce Minister reacts to the concept, while Obama's only representative in Davos this year, senior adviser Valerie Jarrett, declines to take questions as she meets the founder of the WEF, Professor Klaus Schwab. Also, the president of the European Commission, Jose Manuel Borroso speaks out in general against any type of protectionist moves which may accompany economic recovery efforts, while former U.S. President Bill Clinton strikes a tone of optimism that the Obama administration will help lead the recovery.
