By Daniel Griswold, Los Angeles Times
This Op-Ed article was published by the Los Angeles Times on August 1, 2016. To visit the article in the L.A. Times click on the link below:
See also “The Technology Imperative: What Jobs, Jobs, Jobs, Really Means in the 21st Century”, By John Psarouthakis, Gavdos Press, 2012
Foreign trade took a beating at both major party conventions, with speakers blaming free-trade agreements for all but wiping out U.S. manufacturing and eliminating millions of middle-class jobs. Both Donald Trump and Hillary Clinton have promised to renegotiate or abandon trade agreements with key U.S. trading partners such as Mexico and Canada. That would be a colossal mistake.
The number of manufacturing jobs in the United States has indeed been in a long decline since the late 1970s, but that disguises the true story of American manufacturing. Nostalgia for a bygone era blinds politicians and voters alike to the reality of a revitalized sector of the American economy that is thriving in a global market.
Dr. Ngaire Woods is the Founding Dean of the Blavatnik School of Government and Professor of Global Economic Governance at the University of Oxford. She founded and is the Director of the Global Economic Governance Program
Across the world, populists are attracting votes with their promises to protect ordinary people from the harsh realities of globalization. The democratic establishment, they assert, cannot be trusted to fulfill this purpose, as it is too busy protecting the wealthy – a habit that globalization has only intensified.
This article is published in the Social Europe Journal, click on the URL below to read the original posting:
For decades, globalization promised to bring benefits to all. On an international scale, it facilitated the rise of the Asian tigers and the BRICS countries (Brazil, Russia, India, China, and South Africa), produced rapid growth across Africa, and facilitated the boom in developed countries through 2007. It also created new opportunities and augmented growth within countries. But since the 2008 crash, many rich countries have been locked into austerity; the Asian economies have been slowing; the BRICS’ progress has been stalling; and many African countries have fallen back into debt.