{"id":15569,"date":"2024-01-11T00:32:00","date_gmt":"2024-01-11T05:32:00","guid":{"rendered":"https:\/\/americancompass.org\/?p=15569"},"modified":"2024-02-09T15:47:08","modified_gmt":"2024-02-09T20:47:08","slug":"issues-2024-globalization","status":"publish","type":"post","link":"https:\/\/americancompass.org\/issues-2024-globalization\/","title":{"rendered":"Issues 2024: Globalization"},"content":{"rendered":"\n<h2 class=\"wp-block-heading starting-headline\">The Issue<\/h2>\n\n\n\n<p>After the Cold War, American policymakers and economists embarked on an ambitious project to integrate the global economy, believing this would spread both freedom and prosperity. Instead, the U.S. trade deficit exploded and our industrial base collapsed as production shifted quickly to countries with easily exploited labor and aggressive industrial policies to attract investment. The result has been slower growth, less innovation, collapsing communities, and stagnating wages.<\/p>\n\n\n\n<div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/16412884\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What Voters Say<\/h2>\n\n\n\n<ul>\n<li><strong>47%\u00a0of Americans say that the nation has \u201csuffered\u201d from its embrace of globalization. <\/strong>Only 33% believe the nation has benefited.<\/li>\n\n\n\n<li><strong>70%\u00a0of Americans believe policymakers should focus on \u201ctrying to help struggling areas recover.\u201d <\/strong>Only 30% believe the focus should be on \u201ctrying to help people move to more prosperous areas.\u201d<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Why It Matters<\/h2>\n\n\n\n<p>The economists and policymakers who guided the United States down the disastrous path to globalization worked from the assumption that the goal of the economy is maximizing consumption. From this perspective, forcing Americans to compete with impoverished, easily exploited workers abroad was a good idea so long as goods became cheaper. Bringing more impoverished, easily exploited workers into the United States was a good idea so long as services became cheaper. To quote Stephen Moore, founder of the Club for Growth and distinguished fellow in economics at the Heritage Foundation, \u201cCheap labor leads to a booming stock market? That benefits everyone.\u201d<\/p>\n\n\n\n<p>But the economy must do much more than that if it is to spread prosperity widely and support strong families and communities. It must create good jobs at family-supporting wages. It must promote domestic investment that improves productivity and fosters innovation. Capitalism can only achieve those goals if pursuing them is the best way to earn a profit. Globalization has made offshoring factories, cutting jobs, and slashing investment more profitable, so that is what businesses have done.<\/p>\n\n\n\n<p>International trade can still create enormous value, but only if it is balanced\u2014so that Americans trade goods and services produced here for goods and services produced abroad. The current system\u2014where things we once made here are imported instead, but we do not make other new things to send back in return\u2014does double damage. First, it destroys jobs and hollows out our industrial capacity. Second, instead of sending back goods, we send back assets: debt, ownership of companies, real estate\u2014in essence, further claims on our future prosperity.&nbsp;<\/p>\n\n\n\n<p>Revitalizing the national economy must begin with restoring the incentive to invest and build in America. That incentive will only exist if policymakers reject globalization as it has been practiced and insist instead that making things matters.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Political Leaders<\/h2>\n\n\n\n<h4 class=\"wp-block-heading\">What to Talk About<\/h4>\n\n\n\n<ul>\n<li><strong>Making things matters.<\/strong>&nbsp;&nbsp;The idea behind globalization was that making things doesn\u2019t matter\u2014it\u2019s what economists said, and what many still believe. But they are wrong. America must have a strong industrial base\u2014for national security, for good jobs that support families and communities, and for the investment that promotes innovation and growth.<\/li>\n\n\n\n<li><strong>What is the trade?<\/strong>&nbsp;Trade could be wonderful, if we were actually trading things. People in other parts of the world could make more things for us and we could make more things for them in the return. The problem is that there is no trade. We\u2019re just buying things on credit, running up trillions of dollars in debt that will leave future generations poorer.<\/li>\n\n\n\n<li><strong>Accountability for leaders.\u00a0<\/strong>Policymakers and economists not only promised that globalization would promote economic growth and create good jobs, but also ridiculed and shamed anyone who dared disagree. Even after two decades of failure, they continue to insist they were right, and push the same failed agenda. They should not still be making policy for the United States.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Policy Proposals<\/h4>\n\n\n\n<ul>\n<li><strong>China PNTR.<\/strong>&nbsp;We have granted China \u201cPermanent Normal Trade Relations\u201d even though it refuses to behave as a responsible party in the international economic system. The United States should repeal China\u2019s PNTR status, depriving its producers of favorable access to the American market and forcing Congress to vote before granting future trade concessions.<\/li>\n\n\n\n<li><strong>Global tariff.<\/strong>\u00a0By raising the price of imported goods relative to the price of those produced in the United States, a tariff would encourage domestic investment and production. The tariff should continue increasing until the world buys as much from American producers as Americans buy from the world.<\/li>\n\n\n\n<li><strong>Local content requirements.<\/strong>\u00a0Goods sold in the United States should be required to consist of at least some percentage of inputs produced in the United States. This requirement would create new demand for domestic production and spur investment, while still leaving markets to determine which inputs are most efficiently produced domestically and which are best imported.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Media<\/h2>\n\n\n\n<h4 class=\"wp-block-heading\">What to Ask<\/h4>\n\n\n\n<ul>\n<li>Do policymakers understand what they mean when they say that other countries are \u201cinvesting in America\u201d? What happens when foreigners buy U.S. assets\u2014treasury debt, corporate equity, real estate\u2014and how does that benefit Americans?<\/li>\n\n\n\n<li>How are tariffs different from other taxes? Why is it better to collect revenue for the government by taxing American workers on their earnings (an income tax) than by taxing imported goods (a tariff)?<\/li>\n\n\n\n<li>Does making things matter and, if so, what policies should be put in place to ensure that businesses investors take that into account?<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Assignment Desk<\/h4>\n\n\n\n<ul>\n<li>What have other countries offshored to the United States? Limited examples exist, especially in energy-intensive industries where cheap natural gas is vital. What are the benefits when production moves here?<\/li>\n\n\n\n<li>What happens when factories automate? Many economists argue that reshoring manufacturing is futile because modern factories employ so few workers. What has been the experience of communities playing host to such factories?<\/li>\n\n\n\n<li>Who are American workers competing with? Is foreign labor really \u201ccheaper\u201d and if so, why? How does their productivity compare, what tools are they given, and what wages do they accept? What would Americans have to do to compete?<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Revitalizing the national economy must begin with restoring the incentive to invest and build in America.<\/p>\n","protected":false},"author":43,"featured_media":15570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_tec_requires_first_save":true,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"_tribe_blocks_recurrence_rules":"","_tribe_blocks_recurrence_description":"","_tribe_blocks_recurrence_exclusions":"","footnotes":""},"categories":[240,322,260],"tags":[34,27],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Issues 2024: Globalization - American Compass<\/title>\n<meta name=\"description\" content=\"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/americancompass.org\/issues-2024-globalization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Issues 2024: Globalization - American Compass\" \/>\n<meta property=\"og:description\" content=\"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/americancompass.org\/issues-2024-globalization\/\" \/>\n<meta property=\"og:site_name\" content=\"American Compass\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AmerCompass\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-11T05:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-09T20:47:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/americancompass.org\/wp-content\/uploads\/2024\/01\/ian-taylor-jOqJbvo1P9g-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"American Compass\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@amercompass\" \/>\n<meta name=\"twitter:site\" content=\"@AmerCompass\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"American Compass\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/americancompass.org\/issues-2024-globalization\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/americancompass.org\/issues-2024-globalization\/\"},\"author\":{\"name\":\"American Compass\",\"@id\":\"https:\/\/americancompass.org\/#\/schema\/person\/97d2beede6cfa107064737269f29e2f6\"},\"headline\":\"Issues 2024: Globalization\",\"datePublished\":\"2024-01-11T05:32:00+00:00\",\"dateModified\":\"2024-02-09T20:47:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/americancompass.org\/issues-2024-globalization\/\"},\"wordCount\":981,\"publisher\":{\"@id\":\"https:\/\/americancompass.org\/#organization\"},\"keywords\":[\"Globalization\",\"Industry\"],\"articleSection\":[\"Globalization Page: Policy Proposals\",\"Issues 2024\",\"Research\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/americancompass.org\/issues-2024-globalization\/\",\"url\":\"https:\/\/americancompass.org\/issues-2024-globalization\/\",\"name\":\"Issues 2024: Globalization - American Compass\",\"isPartOf\":{\"@id\":\"https:\/\/americancompass.org\/#website\"},\"datePublished\":\"2024-01-11T05:32:00+00:00\",\"dateModified\":\"2024-02-09T20:47:08+00:00\",\"description\":\"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/americancompass.org\/issues-2024-globalization\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/americancompass.org\/#website\",\"url\":\"https:\/\/americancompass.org\/\",\"name\":\"American Compass\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/americancompass.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/americancompass.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/americancompass.org\/#organization\",\"name\":\"American Compass\",\"url\":\"https:\/\/americancompass.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/americancompass.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/americancompass.org\/wp-content\/uploads\/2022\/09\/logo.svg\",\"contentUrl\":\"https:\/\/americancompass.org\/wp-content\/uploads\/2022\/09\/logo.svg\",\"caption\":\"American Compass\"},\"image\":{\"@id\":\"https:\/\/americancompass.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/AmerCompass\/\",\"https:\/\/twitter.com\/AmerCompass\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/americancompass.org\/#\/schema\/person\/97d2beede6cfa107064737269f29e2f6\",\"name\":\"American Compass\",\"sameAs\":[\"https:\/\/twitter.com\/amercompass\",\"americancomp\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Issues 2024: Globalization - American Compass","description":"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/americancompass.org\/issues-2024-globalization\/","og_locale":"en_US","og_type":"article","og_title":"Issues 2024: Globalization - American Compass","og_description":"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.","og_url":"https:\/\/americancompass.org\/issues-2024-globalization\/","og_site_name":"American Compass","article_publisher":"https:\/\/www.facebook.com\/AmerCompass\/","article_published_time":"2024-01-11T05:32:00+00:00","article_modified_time":"2024-02-09T20:47:08+00:00","og_image":[{"width":2000,"height":1333,"url":"https:\/\/americancompass.org\/wp-content\/uploads\/2024\/01\/ian-taylor-jOqJbvo1P9g-unsplash.jpg","type":"image\/jpeg"}],"author":"American Compass","twitter_card":"summary_large_image","twitter_creator":"@amercompass","twitter_site":"@AmerCompass","twitter_misc":{"Written by":"American Compass","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/americancompass.org\/issues-2024-globalization\/#article","isPartOf":{"@id":"https:\/\/americancompass.org\/issues-2024-globalization\/"},"author":{"name":"American Compass","@id":"https:\/\/americancompass.org\/#\/schema\/person\/97d2beede6cfa107064737269f29e2f6"},"headline":"Issues 2024: Globalization","datePublished":"2024-01-11T05:32:00+00:00","dateModified":"2024-02-09T20:47:08+00:00","mainEntityOfPage":{"@id":"https:\/\/americancompass.org\/issues-2024-globalization\/"},"wordCount":981,"publisher":{"@id":"https:\/\/americancompass.org\/#organization"},"keywords":["Globalization","Industry"],"articleSection":["Globalization Page: Policy Proposals","Issues 2024","Research"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/americancompass.org\/issues-2024-globalization\/","url":"https:\/\/americancompass.org\/issues-2024-globalization\/","name":"Issues 2024: Globalization - American Compass","isPartOf":{"@id":"https:\/\/americancompass.org\/#website"},"datePublished":"2024-01-11T05:32:00+00:00","dateModified":"2024-02-09T20:47:08+00:00","description":"Making things matters. Revitalizing the national economy must begin with restoring the incentive to invest and build in America.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/americancompass.org\/issues-2024-globalization\/"]}]},{"@type":"WebSite","@id":"https:\/\/americancompass.org\/#website","url":"https:\/\/americancompass.org\/","name":"American Compass","description":"","publisher":{"@id":"https:\/\/americancompass.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/americancompass.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/americancompass.org\/#organization","name":"American Compass","url":"https:\/\/americancompass.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/americancompass.org\/#\/schema\/logo\/image\/","url":"https:\/\/americancompass.org\/wp-content\/uploads\/2022\/09\/logo.svg","contentUrl":"https:\/\/americancompass.org\/wp-content\/uploads\/2022\/09\/logo.svg","caption":"American Compass"},"image":{"@id":"https:\/\/americancompass.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AmerCompass\/","https:\/\/twitter.com\/AmerCompass"]},{"@type":"Person","@id":"https:\/\/americancompass.org\/#\/schema\/person\/97d2beede6cfa107064737269f29e2f6","name":"American Compass","sameAs":["https:\/\/twitter.com\/amercompass","americancomp"]}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/americancompass.org\/wp-content\/uploads\/2024\/01\/ian-taylor-jOqJbvo1P9g-unsplash.jpg","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/posts\/15569"}],"collection":[{"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/comments?post=15569"}],"version-history":[{"count":5,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/posts\/15569\/revisions"}],"predecessor-version":[{"id":15839,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/posts\/15569\/revisions\/15839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/media\/15570"}],"wp:attachment":[{"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/media?parent=15569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/categories?post=15569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/americancompass.org\/wp-json\/wp\/v2\/tags?post=15569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}