One by one, Mr. Graham methodically explodes the cherished myths of globalization's opponents. There is no rush into low-wage countries by American corporations, which prefer affluent markets. American investment abroad does not cause low wages, nor, in most cases, poor working conditions in developing nations. Overseas investment increases American exports, as more goods are shipped to foreign affiliates, and has no impact on overall U.S. employment levels. Far from depressing wages, it creates more high paying jobs in the United States.
Sweatshops constitute only a minuscule part of the global economy.
Environmental pollution often worsens as poor countries start to develop and then improves as a certain income threshold is passed. Investments by multinational corporations, which on the whole prefer high environmental standards, can help a country to cross that threshold sooner. The nearly three-quarters of China's population that live in rural areas already have this lifestyle, and it is one that most of them are eager, if not desperate, to escape. For these people, and millions like them, globalization is not the problem but a big part of the answer.