The Realities of Global Trade

Politicians and pundits insist that American manufacturers and consumers are victims of an unfair competition, which has enabled China and a handful of other countries to "hollow out" our economy. Obviously, globalization has taken its toll on many American industries. But, what are the specifics? What are the implications? Where is this trend going from here? We'll provide the answers.

In many circles, there is a widespread belief that globalization has destroyed U.S. manufacturing and that unfair foreign .....