DON'T WORRY, BE HAPPY
The World Trade Organization (WTO) has released its annual tome titled the "World Trade Report" for 2005, according to a press release. At 376 pages, it certainly isn't light reading, but an executive summary is available. A key takeaway from my perspective is:
"the impact of offshoring services on production, employment and trade is less severe than suggested by some press reports and public commentary."
Readers of this site have seen my gripes against the fear-mongering on global trade by the likes of CNN's Lou Dobbs and the IT Register. The latter has already commented on the report as have other news organizations.
Recently, several politicians here have opportunistically gotten into the act, including Senators Chuck Schumer, and Hilary Clinton.
I'm non-partisan on this issue...it's too vitally important for the long-term well-being of all of us. Certainly, more sensible heads like Fed chairman Greenspan are trying to temper the politicians' rhetoric and actions. To paraphrase the words of Bobby Ferrin, "don't worry, be global...to be happy".
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