In recent decades, the United States has experienced significant losses in certain sectors, like manufacturing, to lower-income nations like China and Vietnam. While globalization has immense, …Read MoreIn recent decades, the United States has experienced significant losses in certain sectors, like manufacturing, to lower-income nations like China and Vietnam. While globalization has immense positives, our nation has experienced many of the downsides. These can be see as you drive by dilapidated buildings throughout much of the Rust Belt. The United States needs to focus on joining trade agreements that maximize the potentials of a globalized economy, while trying to minimize the downsides. We need to ensure that our domestic industries can be protected. On top of this, the government must also ensure that workers’ protections are added to any trade agreements. The US needs to even out the playing field on the global economy.Read Less
While I would need to do significantly more research to appropriately answer this question, I think there are many benefits to protecting domestic industries. After focusing intensely on international …Read MoreWhile I would need to do significantly more research to appropriately answer this question, I think there are many benefits to protecting domestic industries. After focusing intensely on international trade, the United States could redirect some interest domestically to secure jobs within the country, grow smaller businesses, and increase the confidence of the American public.Read Less
I think that this is very important, especially regarding the safety of the international citizens who produce the goods that Americans commonly buy online.
International trade agreements can lead to the efficient allocation of resources by allowing countries to specialize in the production of goods and services in which they have a comparative advantage. …Read MoreInternational trade agreements can lead to the efficient allocation of resources by allowing countries to specialize in the production of goods and services in which they have a comparative advantage. This specialization can enhance overall economic productivity which is why it is essential to focus on the issue more.Read Less
International trade agreements are important; however, how the state decides to realocate the benefits of trade within its borders is more important. Globalization is here to stay, and no trade …Read MoreInternational trade agreements are important; however, how the state decides to realocate the benefits of trade within its borders is more important. Globalization is here to stay, and no trade agreement is ever equal between two trading partners. Protecting domestic industries from variations abroad is the only way to ensure an agreeable quality of life for the citizens. If we look historically, the quality of life gains seen in Europe during the first wave of globalization only came when the state began to implement measures like progressive taxes, and welfare policies to redistribute the gains made from international trade. Today we enjoy cheaper consumer goods made abroad, but we also see large amounts of workers being displaced. Taxing domestic industries that benefit from globalized trade, offering displaced workers generous benefits, and offering firms incentives to stay within the United States is likely the best path forward. Read Less
In recent decades, the United States has experienced significant losses in certain sectors, like manufacturing, to lower-income nations like China and Vietnam. While globalization has immense, …Read MoreIn recent decades, the United States has experienced significant losses in certain sectors, like manufacturing, to lower-income nations like China and Vietnam. While globalization has immense positives, our nation has experienced many of the downsides. These can be see as you drive by dilapidated buildings throughout much of the Rust Belt. The United States needs to focus on joining trade agreements that maximize the potentials of a globalized economy, while trying to minimize the downsides. We need to ensure that our domestic industries can be protected. On top of this, the government must also ensure that workers’ protections are added to any trade agreements. The US needs to even out the playing field on the global economy. Read Less
While I would need to do significantly more research to appropriately answer this question, I think there are many benefits to protecting domestic industries. After focusing intensely on international …Read MoreWhile I would need to do significantly more research to appropriately answer this question, I think there are many benefits to protecting domestic industries. After focusing intensely on international trade, the United States could redirect some interest domestically to secure jobs within the country, grow smaller businesses, and increase the confidence of the American public. Read Less
International trade agreements are essential. Allies are friends; one hand washes the other, and much benefit comes from both ends to grow.
I think that this is very important, especially regarding the safety of the international citizens who produce the goods that Americans commonly buy online.
International trade agreements can lead to the efficient allocation of resources by allowing countries to specialize in the production of goods and services in which they have a comparative advantage. …Read MoreInternational trade agreements can lead to the efficient allocation of resources by allowing countries to specialize in the production of goods and services in which they have a comparative advantage. This specialization can enhance overall economic productivity which is why it is essential to focus on the issue more. Read Less
International trade agreements are important; however, how the state decides to realocate the benefits of trade within its borders is more important. Globalization is here to stay, and no trade …Read MoreInternational trade agreements are important; however, how the state decides to realocate the benefits of trade within its borders is more important. Globalization is here to stay, and no trade agreement is ever equal between two trading partners. Protecting domestic industries from variations abroad is the only way to ensure an agreeable quality of life for the citizens. If we look historically, the quality of life gains seen in Europe during the first wave of globalization only came when the state began to implement measures like progressive taxes, and welfare policies to redistribute the gains made from international trade. Today we enjoy cheaper consumer goods made abroad, but we also see large amounts of workers being displaced. Taxing domestic industries that benefit from globalized trade, offering displaced workers generous benefits, and offering firms incentives to stay within the United States is likely the best path forward. Read Less