Rebuild

The modern version of globalization began after WW 2 when the United States owned the oceans and kept shipping safe. This allowed countries around the globe to begin trading on a large scale. The open trade was promoted by the US in order to contain communism. One of the results was that over one billion people were lifted out of poverty. In winning WW 2 the US saved the world from Fascism and Nazism and followed that up with rebuilding Europe and Japan and followed that up with rebuilding the far East. Today countries like China, Vietnam and South Korea have thriving economies because of globalization but that is all coming to an end and each country will now have to fend for itself. The countries with large working age populations like the US will do well but those with aging populations like Europe, Japan and China will be the losers. The US will continue to shorten its supply chains by building plants in Mexico and using Mexican workers. New manufacturing facilities will be built in the US and this will bring rising wages for middle income groups. This will be an opportunity for a rebirth of the union movement in the US.