And proof of this sad truth stands the increasing trade deficit, meaning that the United States basically imports more than it exports. The imports from Canada and Mexico for instance have grown by 173%, whereas exports grew at a more toned pace. Then, NAFTA also caused 900,000 Americans in high-paid manufacturing positions to lose their jobs. "We're not signing trade agreements to open new markets for our exports. Instead we're continuing to enter into outsourcing agreements with countries that cannot possibly buy our goods" (Dobbs, 2005).
All in all, globalization is an extremely powerful force that can cause both wealth as well as poverty. Otherwise put, it is the force that intermediates the meeting of first and third world countries, with gains and losses for both parties.
Works Cited
Bhagwati, J., June 2004, Do Multinational Corporations Hurt Poor Countries?, Are We Being Run Over by Global Capitalism?
Dobbs, L., March 4, 2005, Free Trade at All Costs?, CNN, http://www.cnn.com/2005/U.S./03/03/cafta.push/index.htmllast...
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S. pp). For more than ten years, Chinese officials have stated that production from Chinese firms investing overseas is more secure than imports purchased on the international market (U.S. pp). In order to secure more reliable access, Chinese firms are being directed to invest in projects in the Caspian region, Russia, the Middle East and South America (U.S. pp). The National Intelligence Council's report also states that Europe's energy needs will
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