by John Binder, Breitbart:
The “fetish” among America’s working and middle class to reshore millions of manufacturing jobs back to the United States from overseas is racist, a globalist economist with the Peterson Institute for International Economics (PIIE) suggests.
For decades, millions of Americans in manufacturing and supporting industries have lost their jobs to globalization and outsourcing. Every year, recent figures have shown that more than 100,000 Americans lose their jobs as a result of U.S. free trade policy, impacting working and middle-class American communities in all 50 states and from all racial backgrounds.
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During an event, hosted by the economic globalist-libertarian CATO Institute, PIIE President Adam Posen suggested that opposition to outsourcing and support for reshoring America’s manufacturing from overseas is racist.
“The fetish for manufacturing is part of the general fetish for keeping white males with low education outside the cities in the powerful positions they’re in in the U.S.,” Posen said.
“That is really what’s going on here because when you look at the cost of … trade and job displacement and communities … when I look at the so-called costs of the ‘China shock’ or the costs of the decline in manufacturing, I always think ‘Compared to what?’” he continued.
Another astonishing clip from the Cato Institute event today, this one from the influential Adam Posen, head of the Peterson Institute. He says a focus on domestic manufacturing is simply a “fetish for keeping white males with low education in the powerful positions they are in.” pic.twitter.com/ii4F0ssAjY
— Matt Stoller (@matthewstoller) October 6, 2022
“I can’t think of a better recipe for inducing racial tension than having D.C. elites financed by Wall Street pushing offshoring and then saying that anyone who opposes having their community and livelihood destroyed is racist,” economist Matt Stoller wrote in response to Posen’s claims.
