Forbes – Milton Ezrati
“Trade can help alleviate the pressures of this country’s aging demographic by allowing the economy to source labor-intensive products from abroad. It can only work, however, if the United States has something else to sell the world in return. Right now, the country has huge comparative and absolute advantages in producing high-value products. Its workforce is better educated and better trained than those of the emerging economies, where the United States would source its purchases of labor-intensive products. That workforce also has much more capital and technology at its disposal. To carry on this way, the economy will need to sustain these advantages, and that will involve an ever-greater emphasis on training and innovation.” (more)