From 1990 through 2014, the only high-income countries with faster growth [were] a handful of smaller economies, including Finland, Israel and Sweden.”We are being fed a largely false narrative on globalization. True, dozens of steel plants have closed. Put differently: If there were no foreign trade in steel, most of those jobs would have vanished anyway. In the public imagination, no industry better symbolizes the downfall of U.S. manufacturing than steel. Globalization seems guilty as charged — except that the popular indictment is wildly misleading.

Source: Washington Post August 08, 2016 00:00 UTC