Here is how globalism has destroyed our jobs, our businesses and our national wealth in 10 easy steps....
#1 Globalism has merged the U.S. economy with economies that allow slave labor wages.
The "minimum wage" became a whole lot less meaningful once we merged our economy with the economies of nations where it is legal to pay workers 50 cents an hour.
American workers have enjoyed all of the cheap products that have come flooding into our shores, but our politicians never told them that globalism would also mean that they would soon be directly competing for jobs with workers on the other side of the globe that are willing to work for 5 or 10 percent as much.
One big, global labor pool means that the standard of living of the hundreds of millions of workers on the other side of the world will come up slightly while the standard of living of American workers will come crashing down at a blinding pace.
Advocates of globalism never can seem to explain how U.S. workers are supposed to compete with teenage workers in Vietnam that often work seven days a week for as little as 6 cents an hour making promotional toys for big corporations.
#2 U.S. companies make bigger profits by sending jobs overseas.
If U.S. corporations can find a place where they can legally pay workers slave labor wages, what do you think they are going to do?
Corporations have a "duty to maximize shareholder wealth" and U.S. government policies actually have the effect of encouraging the offshoring of jobs.
This is even happening in industries that are on the cutting edge of new technology.
Andy Grove, the former CEO of Intel, says that our advanced technology companies are creating far more jobs overseas than they are in the United States....
Some 250,000 Foxconn employees in southern China produce Apple's products. Apple, meanwhile, has about 25,000 employees in the U.S. That means for every Apple worker in the U.S. there are 10 people in China working on iMacs, iPods, and iPhones. The same roughly 10-to-1 relationship holds for Dell, disk-drive maker Seagate Technology (STX), and other U.S. tech companies.
#3 Globalism has allowed foreign countries to dominate a whole host of industries that used to be dominated by the United States.
U.S. companies are having an incredibly difficult time competing against the low labor costs and the much less stringent business regulations found on the other side of the globe.
In May, the United States spent 50 billion dollars more on goods and services from the rest of the globe than they spent on goods and services from us.
This happens month after month after month.
Every month we get tens of billions of dollars poorer and the rest of the world gets tens of billions of dollars richer.
We are getting clobbered even in industries that we invented.
Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe? Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.
How did this happen?
Well, there are a lot of reasons, but one big reason is that the business environment in the United States has become incredibly toxic. Businesses in this country face a nightmarish web of rules and regulations and that is a big reason why so many businesses are choosing to leave this country...
Read more:
http://endoftheamericandream.com/archives/how-globalism-has-destroyed-our-jobs-businesses-and-national-wealth-in-10-easy-steps
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