Globalization brought specialization, and that is in great part...

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    Globalization brought specialization, and that is in great part the problem brought by Trump's tariffs, which he thinks can be undone by turning America into a close economy.

    "Globalization allows countries and regions to focus on their economic strengths and specialize in producing goods and services that are native to their part of the world. This specialization is the basis of global trade, as few countries have enough production capacity to be completely self-sustaining. Economic specialization often boosts productivity and efficiency. Globalization allows firms to specialize to an extent they never could if they were contained to a single national market, and many of the gains in productivity come from that increase in specialization"
 
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