Consumers may reap the benefits of the cheap products, but the American companies suffer. Likewise, the opening of borders has improved the economy of developing countries; however, the economy of the United States has not improved. “The U.S. goods trade deficit with Mexico was $58 billion in 2015, a 8.4% increase ($4.5 billion) over 2014” (“Mexico”). Many large companies in the United States have gone multinational and offshored production to developing countries. According to a study by Robert E. Scott, the Senior Economist and Director of Trade and Manufacturing Policy Research of Economic Policy Institute, the United States lost 3.2 million jobs to China between 2001 and 2013
Consumers may reap the benefits of the cheap products, but the American companies suffer. Likewise, the opening of borders has improved the economy of developing countries; however, the economy of the United States has not improved. “The U.S. goods trade deficit with Mexico was $58 billion in 2015, a 8.4% increase ($4.5 billion) over 2014” (“Mexico”). Many large companies in the United States have gone multinational and offshored production to developing countries. According to a study by Robert E. Scott, the Senior Economist and Director of Trade and Manufacturing Policy Research of Economic Policy Institute, the United States lost 3.2 million jobs to China between 2001 and 2013