Sep 11, 2011

Globalization: 18,600 jobs offshored by corporations backing job-offshoring trade deals

Eyes on Trade: "The heads of 32 corporations placed an "open letter" in yesterday's National Journal Daily (subscription only) calling for congressional passage of the NAFTA-style trade deals with Korea, Colombia, and Panama.

While these CEOs claimed that jobs would be created by these deals, these claims are belied by the government’s own official studies (which predict an increase in the U.S. trade deficit as a result), by independent economists (who project the net loss of hundreds of thousands of jobs), and the historical record of similar trade agreements (which show slower export growth to countries we have NAFTA-style deals with than with other countries)."

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