CONFERENCE: So, how's globalization working out for you?
The Cambridge Forum hosted a mini-conference recently on the impact of global engagement for the U.S. and other world economies.
Robert Scott, Director of Trade and Manufacturing Policy Research at the Economic Policy Institute (EPI), got the plum assignment of discussing "Globalization of Capital: The Rise of the Multinationals."
Below is a video of Scott's talk at the conference. But here's a fun fact to ponder when considering the "rise of the multinationals" (or, conversely, the rise of outsourcing): The United States has run a trade deficit every year since 1976.
That $6 billion dollar trade gap in 1976 looks like nothing now, when the U.S. routinely racks up HUNDREDS of billions of dollars in annual trade shortfalls.
This is just grist for the mill, though.
Bottom line: When one asks about multinational trade and it's impact on the U.S., the results aren't all positive.
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