And Now for a Word About Globalization

Troubled by violence in Iraq, corruption in politics and uncertainty over the economy, US voters threw Republicans out of power in Congress. With voters increasingly concerned about a loss of manufacturing jobs, Democrats in Congress are expected to impose conditions on any trade agreements – and Republican critics will probably label any changes as “protectionist.” But journalist Jon Talton describes such concerns as legitimate: Experts had assured citizens that the North American Free Trade Agreement would create good jobs in Mexico, but instead, illegal immigration to the US reached record highs; trade agreements and China’s entry into the World Trade Organization was supposed to increase US exports and protect jobs, but the trade deficit continues to grow; CEOs earn millions at troubled firms lacking in innovation while workers’ wages stagnate. Citizens have lost confidence in expert analysis on promised benefits of trade globalization. All global citizens would benefit from thoughtful analysis of the influence of diverse policies from nations like the US and China – and governments must set priorities on environmental protection and human rights over profits. – YaleGlobal