|
US annual GDP $11 trillion; World annual GDP $33 trillion. Of the US's, two thirds of that $11 trillion or around $7 trillion, better stated as about 20% of world GDP, is 'consumption'.
Cut US consumption, say with outsourcing too many US jobs which aren't balanced with equal consumptions by displaced new jobs and the foreign beneficiaries of outsourcing's consumption -- known to be vastly less than a US consumer-- and you have a recipe for disaster.
Globalization is this: running the engine of the world's economy (US) while draining said engine (outsourcing jobs and capital) ... pretty soon the engine burns out.
|
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore