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by mikechen233
2227 days ago
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That's a domestic issue in the United States. US GDP has grown steadily during the last 30 years. The corporate earnings of the s&p 500 has went up by multiple folds. Companies like Microsoft, Apple, Nike , McDonald, Johnson & Johnson etc are earnings more money from around the world then ever before. The record levels of s&p stock buybacks tells you that companies have more money than they know what to do with it. So the US is earning a lot more money from all of globalization. Yet all of this earning is not benefited the lower class Americans. It should have been distributed better internally within the US. Yet, the politics within the US is preventing that from happening. But have you thought about what other countries feels about US dominating in so many industries? Other countries need income as well. They have people to feed. From a equality stand point, they should also enjoy similar quality of life that developed countries are enjoying. If you have visited a developing country, you would know that life is so much different there than here in US. Globalization lifted hundreds of millions of people out of proverty around the world, not only in China, but also in Philippines, Thailand, vitenem, etc. Then these people have more money to spend on more expensive US goods, iPhones, computers, Starbucks etc. Globalization didn't put millions in the developed world in poverty, uneven tax system, economic distribution system, government that doesn't invest in the lower class population did. In the US for example, you have record jobs creation, yet a lot of companies say they can't hire the right talent. They have to hire h1bs. From a personal experience, a lot of companies would love to hire locally yet they can't because there is no talent available. The fundamental issue is that the education system does not produce enough talents needed by the job market. |
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