Comments by "Lawrence Ralph" (@lawrenceralph7481) on "How Globalization Backfired | GZERO World" video.

  1. Globalization of supply was a more efficient use of resources. Specialists with higher volume, productivity and lower labor costs produced and distributed goods more effectively than regional suppliers. As these suppliers were onshored to less productive domestic or alternative sources unit prices increase. Though the impact is only a few percent, summed over the effected goods, a few per cent of GDP is reduced. The same kind of relative GPD reduction will also occur as we shift from less costly energy sources to more costly "lower carbon footprint" sources. A simple loss in of the quality of life due to ineffeciency. Europeans do thus productivity trade all the time, sacrificing European GDP growth for social objectives. They compete by not providing any national defense and forcing that burden on American citizens alone.
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