The World Trade Revolution
To see how the world will eventually right today’s massive trade imbalances, look to the Atlantic, not the Pacific.
Last year, two of the most powerful corporations in the United States reversed a decades-long trend of sending money and jobs to low-wage factories overseas and announced that they would be investing up to $10 billion in manufacturing goods at home.
Two-thirds of that investment is to be made by Intel Corporation, which will be upgrading its existing plants and building a new chip fabrication facility in Oregon. That might have been expected....