Giving America Away

Paper Summary:

The paper discusses the closing of multinational companies in favour of China, India or another country where labour costs are low, setting a trend of eroding manufacturing across America. The paper explores whether the trend is to the ultimate benefit or detriment of the American economy. The paper looks at Lou Dobbs' opinions in his book "Exporting America: Why Corporate Greed is Shipping American Jobs Overseas" and discusses the movement against "exporting America". The paper concludes that American economists foresee the globalization trend as inevitable with the developing giants gaining at the expense of America.

From the Paper:

"Many believe the globalization phenomenon is much more of a threat to America than a positive step. The most common example brought up to demonstrate this fact is the closing of multinational companies in favour of setting up shop in China, India, or another country where labour costs are stunningly low. Other critics cite the increasing number of imports from China to America, giving the giant nation a growing edge on the American economy. In fact, one must remember that although China is a developing country, it is the fourth largest economy in the world and is now also the world's fastest growing economy. India, too, traditionally a developing nation, is seeing a sudden surge in economic growth owing to the American trend of outsourcing jobs."

Sample of Sources Used:

• "Exporting America". American Patriot Friends Network. Date accessed: 18 February, 2007. Available: http://www.apfn.org/apfn/exporting.htm.
• Freeman, Richard B. "Labour Market Imbalances: Shortages, or Surpluses, or Fish Stories?" Boston Federal Reserve Economic Conference "Global Imbalances: As Giants Evolve". June 14-16, 2006. Date accessed: 18 February, 2007. Available: http://www.bos.frb.org/economic/conf/conf51/papers/freeman.pdf.
• Grigg, William N. "Exporting U.S. Jobs". The New American. September 22, 2003. Date accessed: 18 February, 2007. Available: http://www.thenewamerican.com/tna/2003/09-22-2003/vo19no19_exporting.htm.

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