Instead of forecasts, lets look at facts. Over the last 35 years, the U.S. has brought China into the World Trade Organization and concluded many free-trade agreements, including one with South Korea three years ago. In advance of each, U.S. leaders promised the deals would create high-paying jobs, reduce the trade deficit, increase GDP and raise living standards. But none of these came true. In fact, the U.S. non-oil trade deficit continued to grow, millions of jobs were offshored and mean household income has hardly risen since 2000. And economists overwhelmingly agree that rising U.S. income inequality is being driven in part by international trade: latimes/opinion/op-ed/la-oe-prestowitz-tpp-trade-pact-20150123-story.html
Posted on: Fri, 23 Jan 2015 23:58:44 +0000
Trending Topics
© 2015