WSJ: As Global Order Crumbles, Risks of Recession Grow

The countries who have tended to focus on their protectionism – US, England, several European countries, definitely not China – seem to be the ones where there is a fear, real or induced by politicians, that the working class is losing out because of globalization.  This fear is either due to “foreigners” that are taking their jobs in their native country or to cheap imports from countries where labor costs are much cheaper.  Of course, voters forget that low priced consumer goods have been a benefit to purchasing power for a variety of goods including cars, appliances, electronics, and apparel.

Read the full article in The Wall Street Journal