New York: US President Barack Obama on Tuesday intensified attack on his Republican presidential poll rival Mitt Romney on the issue of outsourcing of jobs, accusing the former Massachusetts governor's old private equity firm of shipping jobs to "low-wage countries" like China and Malaysia.

In a 30-second new video released on Tuesday, Obama campaign showed a clip from a June 21 Washington Post article which says "Romney's Bain Capital invested in companies that moved jobs overseas."

The article goes on to say that the global expansion that began when Romney was at Bain Capital continued even after he had left, with the company opening facilities in China, Malaysia, Taiwan and South Korea.

It said Bain invested in companies that relied on "Asian labour."

Comparing Romney to Obama, the ad says the Republican "supports tax breaks for companies that ship jobs overseas," while Obama "believes in insourcing" and "fought to save the US auto industry."

While Romney supports tax breaks that ship jobs overseas, Obama favours tax cuts for companies that bring jobs home, the ad says adding that "Mitt Romney's companies were pioneers in outsourcing US jobs to low-wage countries."

Obama's latest ad is titled 'Believe' and will run in nine battleground states of Colorado, Florida, Iowa, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania and Virginia, his campaign said in a release.

"As a corporate buyout specialist, he (Romney) made massive profits by shuttering plants, firing workers and investing in companies that pioneered shipping of good American jobs overseas," the campaign said.

Last week at an election rally in Atlanta, Georgia, Obama had quoted a Washington Post article that said Romney's former firm Bain Capital, which "gave him all this amazing success -- was a pioneer in offshoring jobs to China and India."

Vice President Biden too had alleged that the former Massachusetts Governor signed a USD 160,000 a month contract that paid people abroad to help poor people in Massachusetts get food stamps.

"So give Mitt Romney credit: He is a job creator. In Singapore. And China. And India," he had said.

(Agencies)

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