Reply #20: It's not so much "denies" as it is "focuses elsewhere."

[Occam Bandage]

He will, point-blank, admit that freer trade policies would result in massive job loss in the American industrial sector. He will then immediately tell you that it would result in massive job creation in the third would, and that the increased profits in America, along with greater competition with foreign corporations, would fuel the creation of better-paying, higher-tech jobs.

The failure, of course, is what we're seeing in Detroit: corporations do not act rationally. They do not invest profits intelligently; they just pocket them or dump them in ridiculous bubble schemes during the good times, and during the bad times they beg for bailouts. The net result is pure damage to the American economy, and as the American market collapses, the developing world finds itself without a market to sell its cheap goods or labor to. Relying on megacorporations to act in their long-term interest is foolhardy; shareholders demand instant profits, and will happily replace a farsighted management with one that promises an immediate bonanza.