![]() ![]() Trade also affects consumer prices not just wages.Aggregating across regions and firms gives us a different picture. The negative effects of trade on earnings tend to be concentrated in specific areas and industries.Globalization impacts the standard of living of different types of workers to different degrees within countries, in all countries. Narratives that focus on winning and losing countries miss the point.These studies are important and informative, but there are some nuances to keep in mind. Several academic studies have shown that trade liberalization often has a negative impact on wages and employment for specific groups of people – from industry workers in the US to farmers in India.
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