When U.S. presidential candidates talk about “jobs,” our overseas allies and competitors here “protectionism.”

In a Jan. 30 posting (tomorrow’s news today!) India’s Business Standard frets about the possible return of trade barriers.

The Bush administration has been relatively benign for Indian economic interests, even if it has only been driven by US self-interest. The administration has been steadfast in disregarding the strident demands of labour unions to penalise corporations that relocate their back office operations to countries like India or manufacturing to China. This position is, to be sure, not driven by altruism but simply making good on commitments to big businesses that mostly bankroll the Republican cause and have been anxious to maximise cost efficiencies in an acutely competitive environment. Neither Democratic front-runner Barack Obama nor Hillary Clinton can be described as notably enthusiastic about international economic liberalism.

“Not driven by altruism?” No, I don’t reckon it is–but isn’t that the point of gains from trade? That altruism isn’t necessary?