We need globalization for the larger markets and the exchange of goods from other countries that have a comparative advantage. China has one of the largest markets within its own borders so it can afford to be protectionist. (this will quickly change)
Also to mention, the biggest bottleneck to US economic growth during the Ford era was was the lack of workers which is why opening our doors to crowded Europe gave us a boost.
China on the other hand still has plenty of workers to fill its mills.
> Also to mention, the biggest bottleneck to US economic growth during the Ford era was was the lack of workers which is why opening our doors to crowded Europe gave us a boost.
Actually during the Ford era, we went on an anti-immigration phase.
Assuming the Ford era began in 1900, we could say this was towards the end of the Ford era. I guess we had overdone on immigration and started regretting it.
