{"id":14718,"date":"2017-01-10T19:19:45","date_gmt":"2017-01-11T00:19:45","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=14718"},"modified":"2017-01-10T19:19:45","modified_gmt":"2017-01-11T00:19:45","slug":"is-globalization-to-blame-boston-review","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/01\/10\/is-globalization-to-blame-boston-review\/","title":{"rendered":"Is Globalization to Blame? | Boston Review"},"content":{"rendered":"<p><a href=\"http:\/\/bostonreview.net\/forum\/dean-baker-globalization-blame\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/01\/seattle.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>From Dean Baker:<\/p>\n<blockquote><p>Among the many myths about globalization, the worst is that the loss of large numbers of manufacturing jobs in the United States (and Europe) was inevitable&#8230;..<\/p>\n<p>Globalization need not have taken the course it did. There was nothing inevitable about large U.S. trade deficits, which peaked at almost 6 percent of GDP in 2005 and 2006 (roughly $1.1 trillion annually in today\u2019s economy). And there was nothing inevitable about the patterns of trade that resulted in such an imbalance. Policy decisions\u2014not God, nature, or the invisible hand\u2014exposed American manufacturing workers to direct competition with low-paid workers in the developing world. Policymakers could have exposed more highly paid workers such as doctors and lawyers to this same competition, but a bipartisan congressional consensus, and presidents of both parties, instead chose to keep them largely protected&#8230;&#8230;.<\/p><\/blockquote>\n<p>Source: <a href=\"http:\/\/bostonreview.net\/forum\/dean-baker-globalization-blame\">Is Globalization to Blame? | Boston Review<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Dean Baker: Among the many myths about globalization, the worst is that the loss of large numbers of manufacturing jobs in the United States (and Europe) was inevitable&#8230;.. Globalization need not have taken the course it did. There was nothing inevitable about large U.S. trade deficits, which peaked at almost 6 percent of GDP &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/01\/10\/is-globalization-to-blame-boston-review\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Is Globalization to Blame? | Boston Review&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,34],"tags":[],"class_list":["post-14718","post","type-post","status-publish","format-standard","hentry","category-economy","category-us-canada-countries-regions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Globalization to Blame? | Boston Review - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Globalization to Blame? | Boston Review - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From Dean Baker: Among the many myths about globalization, the worst is that the loss of large numbers of manufacturing jobs in the United States (and Europe) was inevitable&#8230;.. 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So far, thanks to the exorbitant privilege of the US dollar and the good\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Adam Tooze","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/adam-tooze.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":33990,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/06\/04\/the-globalization-trap\/","url_meta":{"origin":14718,"position":1},"title":"The globalization trap","author":"Colin Twiggs","date":"June 4, 2022","format":false,"excerpt":"On March 8, 2000, President Bill Clinton made a persuasive pitch to Washington\u2019s foreign policy elite, Congress and the international community, on the merits of China\u2019s accession to the World Trade Organization: \u201cMembership in the WTO, of course, will not create a free society in China overnight or guarantee that\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Corporate Profits as Percentage of Value Added","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-01-profits.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-01-profits.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-01-profits.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-01-profits.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":14457,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/11\/11\/why-the-establishment-were-clean-bowled-by-trump\/","url_meta":{"origin":14718,"position":2},"title":"Why the establishment were clean-bowled by Trump","author":"ColinTwiggs","date":"November 11, 2016","format":false,"excerpt":"Forget private email servers and sex tapes. Forget men versus women. This election was decided on the following three issues: 1. Globalization. Currency manipulation by emerging economies like China and consequent offshoring of blue-collar jobs has gutted the US manufacturing sector. Accumulation of $4 trillion of foreign reserves enabled China\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40639,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/01\/30\/michael-pettis-the-china-shock-is-coming\/","url_meta":{"origin":14718,"position":3},"title":"Michael Pettis: The China Shock is Coming","author":"Colin Twiggs","date":"January 30, 2023","format":false,"excerpt":"https:\/\/youtu.be\/QcdPMOMS7N8 Michael Pettis is a professor of finance at Peking University in Beijing and one of the foremost Western experts on China, having lived there for almost two decades. He explains the Chinese growth model, why it no longer works, and the hard choices ahead. China's Growth Model China's growth\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"China Non-Financial Credit\/GDP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-30-china-credit.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-30-china-credit.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-30-china-credit.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":40522,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/01\/23\/a-bear-market-for-bonds\/","url_meta":{"origin":14718,"position":4},"title":"A bear market for bonds?","author":"Colin Twiggs","date":"January 23, 2023","format":false,"excerpt":"In 2009, Warren Buffett wrote: \"Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome aftereffects. Their precise nature is anyone\u2019s guess, though one likely consequence is an onslaught of inflation.....\" He was wrong\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Manufacturing wages","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-23-wages.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-23-wages.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-23-wages.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":14749,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/01\/30\/trumps-dumb-war-on-nafta-bloomberg-view\/","url_meta":{"origin":14718,"position":5},"title":"Trump&#8217;s Dumb War on Nafta | Bloomberg View","author":"ColinTwiggs","date":"January 30, 2017","format":false,"excerpt":"Bloomberg editorial view: America's trade pact with Mexico and Canada reshaped all three economies, creating a highly integrated and competitive economic zone. The evidence is clear that, in the aggregate, this helped American workers -- and not just because Nafta and other free-trade agreements make goods cheaper and promote U.S.\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=14718"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14718\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=14718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=14718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=14718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}