The US Presidential elections were a wake-up call to many that millions of Americans are angry and want drastic change. While our new global economy has benefited many, they feel that they have been left behind – losing their livelihoods and income to companies abroad. As a nation, we need to do something about these issues, although Trump’s promises and actions to pull out of international trade deals may not be the only or best solution.
The problem, according to Council on Foreign Relations’ Edward Alden, is not globalization itself, but the failure of domestic policies to address its associated challenges. US policymakers have long recognized the challenges that Americans would face in the new global economy, but mainly looked the other way.
In his book, Failure to Adjust: How Americans Got Left Behind in the Global Economy, Alden explains why support for free trade is disappearing, and how to improve the situation for citizens whose lives have been negatively impacted by it. What can we do to minimize these impacts, and how can we build a workforce that is adaptable and resilient to rapidly changing global markets? What potential federal policies would develop more internationally competitive industries and improve the overall American economy?
Speaker Edward Alden is the Bernard L. Schwartz Senior Fellow at the Council on Foreign Relations.
The conversation is moderated by Jane Wales, CEO, World Affairs and Global Philanthropy Forum; Vice President, The Aspen Institute.
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