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IPFS News Link • Economy - Economics USA

The US Does Not Need Economic Integration or Globalization

• By Antonio Graceffo

In addition to free trade, globalists think the only way to save the American economy is to allow millions of people into the country who are willing to work for $5 an hour.

Globalists believe that the US needs integration with the rest of the world and that this integration is some sort of panacea that will solve all the world's problems while improving the lives of all people. Groups like the Asia-Pacific Economic Cooperation (APEC) argue that inequality has widened and that integration will help to reduce it. However, if the US integrates with poorer countries, we will wind up with an average, which means Americans will lose while the people from the developing countries will gain.

One example would be Mexico, where the average income is $11,500 per year, whereas in the US it is $70,000. If we calculate a weighted average, considering the difference in the size of the populations, we get about $25,000. So, if the US integrates with Mexico, we can eliminate income disparity if we all agree to live on just $25,000 per year. This is essentially what globalist organizations want. By forcing the US to integrate its economy with other nations, we would just be decreasing the standard of living for Americans.

Of course, the US could also integrate with Haiti, which has a per capita GDP of less than $800 per year. The globalists would love that.

An organization called Global Sourced praised Clinton and Obama for their contributions to the globalization of the United States in an article titled "Globalization: The Foundation of America's Economic Power." They miss the point that the foundation of American power is hard work, fair courts, a lack of corruption, a high degree of freedoms, innovation, risk-taking, education, democracy, private property rights, capitalism, and one of the highest worker productivity in the world. The countries they want the US to integrate with generally have high levels of corruption, low levels of judicial independence, and lower worker productivity. They also tend to have higher degrees of socialism. Integrating the two economies won't solve the problems of the poorer country.