TPP

Globalization started to end before most people knew what it was. It started after WW 2 when the US declared they would use their navy to keep the oceans safe for free trade, for all those countries who opposed the Soviets. For the next forty years countries around the world grew rapidly by importing and exporting products. In the process one billion people were moved out of poverty during the greatest economic growth period in history. When the Soviet Union collapsed in 1990 it was no longer necessary for the US to expend the resources to keep the seas safe and globalization came to an end. The big winners were developing countries in Southeast Asia, countries like China, South Korea and Vietnam. The big losers were blue collar workers in Europe and the United States. A smaller but important group of winners were high tech workers and the investment class. The latter group gathered more money than any time in history and the thus the wealth gap widened. There was an early warning for the middle income workers when Ross Perot, who ran for president in 1992, declared famously that NAFTA would create job loss when he said the giant sucking sound you hear is the sound of American jobs going to Mexico. Even more dangerous to American factory workers was China, a communist country which decided in 1978 to open up to a free market system. China's rapid development was then further accelerated when they joined the WTO in 2000. President Obama, not understanding the harm to the workers caused by global trading, proposed the Trans Pacific Partnership(TPP) and tried to pass it but congress was beginning to see the harm caused by international trade and would not vote for it. Trump wanting to bring jobs home shut down the TPP his first day in office and followed that up with import taxes on China. Trump recognized early on how China was using unethical ways to steal manufacturing jobs and campaigned promising to put a stop to it which he did. Biden followed up and the US is now in full onshoring mode. This will result in a doubling of US manufacturing in the next five to seven years.