Globalization sits at the center of America's economic crisis. Critic say that globalization is the cause of the Americas suffering middle class. Mostly from signing bad trade deals that led to the loss of American industrial jobs. The advocates claims that America has benefited from globalization. They shift the blame for deindustrialization due to the improvement in technology.
The trade agreements were unfair to the benefit of the U.S. and Europe and to the detriment of developing countries. We secured strong intellectual property protection. We've succeeded in forcing countries to open up their markets to our financial firms.
We could have ensured globalization benefitted all, but corporate greed was too great. American workers are at a disadvantaged, low-skilled workers in particular.
Overall, we need fairer international rules. America needs better management of the changes being brought about both globalization and technology.
https://www.cnbc.com/2019/04/22/joseph-stiglitz-us-trade-deals-helped-corporations-and-hurt-workers.html
1 comment:
Do you have any suggestions to create a better globalized environment for all? While I agree with the premise I have yet to find an alternative that comes without any consequences. Those who support trade deals like NAFTA note that they lead to lower prices for consumers. On the flip side they have also led to industrial jobs leaving America and factories being shuttered. Other policies appear to be attempts to isolate America and lead to stagnant growth. Are there currently any policy proposals out there that seek to be a good fit for all?
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