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It's so exhausting to to be constantly told by American leaders that the defining policy of the 80 odd years during which the US became the most wealthy and powerful country in the history of the world was a grossly unfair failure for them.

Heather Stewart@guardianheather.bsky.social

US trade secretary Howard Lutnick really not mincing his words here at Davos: "We are here to make a v clear point: globalisation has failed the West and the USA. It's a failed policy. It's what the WEF has stood for, which is, export, offshore, find the cheapest labour in the world."

Dan Kennedy

@dankennedy.net

21 Jan

Yes, the U.S. became unimaginably wealthy under globalization, with a massive income gap and a slide in real wages for anyone below the upper middle class. That led to a revolt of the masses that gave us American fascism and the very real threat of a trade (or worse) war against Europe.

Dmitry Grozoubinski

@explaintrade.com

I guess the fact that currently ~85% of Americans work in services which have largely been spared the wage pressure of globalization, and inequality is at all-time-highs makes me sceptical thta keeping tariffs high on China would have prevented a real-wage slide for the middle class.

21/1/26, 4:08 pm0 reposts2 likes

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