Alan Greenspan and John Snow met with Congress yesterday and argued for globalization, and against any protectionist measures to be used against China.
The Houston Chronicle has that story here. CNN has a story here.
I'm going to try to take some more time to write about this soon, but I've been thinking a lot lately about impacts of globalization upon American national security down the road. If at some point in the not-so-distant-future we truly are not manufacturing anything domestically (because it's cheaper that way), what happens if we one day become involved in a conflict with China, etc.?
Isn't there some analogy here to the Confederate states during the Civil War - in that they simply did not have the industry to realistically compete in a long-term war with the North?
Is this a realistic concern, or am I just being overly cautious? More thoughts to come on this over time...