Multinational companies are out of control and have drained America of millions of good jobs. This is because it is possible for big companies to seek the cheapest labor anywhere in the world and set up factories there, and then sell the product in the United States. This undermines wages in America and greatly increases our foreign trade deficit, which must be paid, one way or another.
Democrats favor FAIR TRADE, where we simply trade much less with countries which have wage scales vastly lower than our own, or do not have protections for workers (real Unions!!) or do not abide by international environmental standards. The primary beneficiaries of international trade are the international traders and their big time financiers, the same one so recently bailed out by American taxpayers. Globalization should involve mainly key natural resources which some countries have and others lack. Food, minerals, fuels, and things of that nature. Cultural trade is good when it leads to increased understanding. High-tech trade can increase the efficiency of workers worldwide. But trade based on slave-wage labor is a dead end and creates a “race to the bottom” among workers everywhere. It is unsustainable and Democrats will lead the fight to correct this imbalance.