2min snip

INSIGHT

Globalization Trade-offs

Globalization's primary benefit was disinflation through efficient supply chains.
However, it negatively impacted US wages and manufacturing.
Reversing globalization could boost these sectors but might increase inflation.
Fixing US manufacturing likely requires addressing high US healthcare costs, which burden employers more than in other developed countries.
Without fundamental changes, reshoring efforts may be costly and ineffective.

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