Trade & Trading

1.) Leaders of the world’s seven or eight largest industrialized nations, originally known as G-7 and now G-8, meet periodically to evaluate and plan globalization of trade and further industrialization. Should these meetings continue to promote global trade? Yes, because that is the road to productivity and progress. No, global trade is counter-productive and exploits poor people. Wealthy nations should simply give money and resources to poor nations.

2.) In several host cities, notably in Seattle over a decade ago, protestors gather from around the world to display their anti-globalization feelings. These protestors appear to be more party-goers than idealists.

3.) Global trade protestors claim globalization causes workers in less developed nations to be unfairly underpaid. Are the protestors correct?

4.) Global trade protestors claim globalization causes workers in industrialized nations to unfairly lose their jobs to workers in underdeveloped nations. Are the protestors correct?

5.) Over the past decade of trade and manufacturing globalization many thousands of workers in the G-8’s companies have lost their jobs. Does this sound correctt?

6.) Over recent decades thousands of workers in less developed nations have gained employment in local companies that export their products to G-8 countries as finished goods and as components used in advanced manufacturing.

7.) Start-up companies based in lesser developed countries are employing local people, manufacturing products, and selling these products to G-8 companies. Does this seem to be beneficial to the native employees and the purchasing nations?

8.) Over recent years, thousands of workers from lesser developed nations have emigrated to gain employment in many large G-8 companies. Over recent years we have witnessed G-8 companies hiring fewer workers because they contract out production of subassemblies, components and finished goods to lesser developed nations including China, Mexico, India, Honduras, etc.

9.) It is clear that globalization is causing G-8 companies to layoff workers and replace their output with products produced in lesser developed nations. This migration of work skills forces G8 workers to upgrade their skills and eventually get higher paying jobs.

10.) It is clear — after much reflection & argument — that globalization benefits: 1.) No one, 2.) G-8 workers, 3.) G-8 companies, 4.) G-8 nations, 5.) Workers in lesser developed nations, 6.) Companies in lesser developed nations, 7.) Lesser developed nations, 8.) All of the above

11.) Global and regional organizations and alliances such as TPP, NAFTA, the EU, ASEAN, the World Bank, and several others have gone too far in their attempts to harmonize free trade. Therefore, these organizations should revamp, dismantle, and reconfigure their structures to promote progress and improve productivity more appropriately in the 21st century.

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