Fortune article on A Recession of Global Dimensions? stated:
The jobs picture also has an important global dimension. For a majority of Americans, the most significant fact of globalization is the advent of a large-scale global labor market. Millions of people around the world can now compete for millions of U.S. jobs. Never mind that the number of jobs that actually get outsourced is relatively small. What matters is the mere presence of those lower-priced workers. They hold down the pay of high-priced Americans and constantly entice employers everywhere to create new jobs over there rather than here. Thus, the problem isn't so much jobs being sent abroad but jobs that never show up here at all.
Are they finally going to realize that the US can only have a healthy economy when it is good for the US middle class, for US jobs and that this glorified global labor arbitrage agenda actually in the long term hurts the very companies pushing for it?