The Globalization Backlash
Globalization in its current form would be inconceivable without the American insistence on free trade. Classic free traders so far have been strongly committed to the globalization project. But more and more experts are coming up with evidence that globalization is not in the country's best interest.
Globalization and greed have gutted America's manufacturing industry and caused the loss of over 15 million high-paying manufacturing jobs to the Far East in less than two decades. U.S. multinational corporations, that employ 20% of all U.S. workers, are increasingly hiring overseas workers. Jobs at multinationals tend to pay above-average wages and have sustained the American middle class for decades.
According to an opinion poll conducted by the Wall Street Journal there has been a decisive shift in American attitudes about globalization: Only 28 percent of respondents agreed that globalization is a good thing.