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View Diary: Open thread for night owls: U.S.-based multinational corporations hire lots of people...overseas (70 comments)

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  •  Why shouldn't richer countries share some capital (0+ / 0-)

    with poor countries so that we can help lift the latter out of poverty over time.

    Isn't it the progressive way of thought to help 'lift all boats'?

    How is an attitude of "all our Capital belong to us" different from an attitude of "all our wealth belong to us" on the part of some rich people? The kind of demagogic ideas that Robert Oak etal promote are actually a deep faultline in American progressive thought for this reason.

    Multinational companies try to sell their goods and services to everyone in the world, not just American clients/customers. If a company is trying to develop a market in a country/region, why shouldn't they hire people in that country/region? In fact, why doesn't that country have a right to have companies hire their citizens in return for market access in that country?

    Think about arguments that progressives were making in support of Obama when the Ohio/Jeep issue came up during the 2012 election. Weren't Dems/libs defending Jeep opening factories in China? Using what arguments?

    Global trade and economic development can happen in such a way that it is mutually beneficial to both rich and poor countries. It comes down to balance in trade. If our trade is relatively balanced with a given developing country (which is the case with India-US trade), it means that as that country grows economically, they're buying our goods and services roughly to the same tune as we are importing goods and services from them, and that's a mutually beneficial economic relationship that will benefit both countries in both short and long runs.

    We have a healthy and relatively balanced trade/economic relationship with India, but not so with China. That distinction is something that people need to understand well.

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