The US was the ‘1st Victim of Globalization’

The US was the ‘1st Victim of Globalization’

The US was the ‘1st Victim of Globalization’

Philippine President Rodrigo Duterte says the United States is the 1st victim of “globalization” and that is why President Donald Trump is pushing back with an “America First” stance.

President Duterte made the comments at a business conference on the sidelines of a regional summit. He said the flight of American manufacturing to China after it opened to foreign trade and foriegn direct investment hurt US workers.

President Duterte described how reforms launched by Chinese leader Deng Xiaoping in the 1970’s and George HW Bush and Henry Kissenger led the country to open its once-closed borders to foreign trade and direct investment.

US businesses were eager to take advantage of less expensive labor and lower taxes.

He said, “America was the first victim of globalization and that is why President Trump is working to lure them back and says ‘America First.'”

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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