Comparing top-down vs bottom-up approaches
SUMMARY
INTRODUCTION
Globalization has significantly improved our lives, although some countries like Germany have benefitted more than others given export-oriented industries. It is easy for politicians to highlight damage done by foreign nations, and make the case for more protective and nationalistic policies.
However, most countries depend on global trade, and even large economies like China or the US can not turn away from it without severe economic consequences. Moving jobs that were outsourced to China or Vietnam back to the US or Europe will perhaps improve supply chain logistics, as well as achieve certain political goals, but it unlikely will make production cheaper.