Thursday, April 19, 2007

Globalisation Hurts USA, Says Ex-IBM Man

The Nation discusses Ralph Gomory's take on globalisation. "What countries want and what companies want are different" is the ex-IBM staffer's starting point.

US Companies who move jobs and production offshore are benefitting themselves and the host countries, but not the USA. The conventional globalisers' idea of "win-win" is naive, he reckons. There will most certainly be "losers".

Gomory proposes two courses: cap the US trade deficit and use the tax code to incentivise multinationals to keep added-value jobs and production within the USA.

Gomory isn't aiming at wholescale protectionism, but he's persuasive enough to make that a possible outcome of the debate he wants to start.
Link to Nation's article: The Establishment Rethinks Globalization

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