Editorial Board

Obama-Romney Debate Over Offshoring Is Phony and Harmful

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The U.S. presidential campaign seems to have time-traveled back to 1992, when independent candidate Ross Perot thought he heard the “giant sucking sound” of American jobs moving to Mexico.

Perot lost his presidential bid, along with the argument against globalization. The winner, Bill Clinton, went on to sign the North American Free Trade Agreement. The resulting U.S. job losses, primarily in manufacturing, were offset by gains elsewhere, according to numerous studies.