United States, contrary to current discourse, has benefited from globalization | Photo credit: Zimmytws
The effect of illusory truth, a psychological phenomenon where repeated exposure to false layers makes them seem true, has become a cornerstone of modern political propaganda. A 2023 study in public opinion quarterly discovered that at the end of his first term, President Trump had made an estimate of 30,573 false claims. The study showed how the essay states that the powerful shaped public perceptions without beings of their objective base.
Emboldened by its political traction, it has been inclined even heavier in this poorly informed narrative in its second mandate.
United States, a beneficiary or globalization
In reality, the global commercial system, far from exploiting the US, has been largely molded by it to serve its own strategic and economic interests. For decades, the United States has been a main beneficiary of globalization, enjoying access to cheapest goods, global expansion of its multinationals, domain in high value services and outstanding gains in finance and technology.
The United States GDP per capita has constantly overcome global averages; Since 1991, the gap has expanded at 70 percent, from $ 31,866 to $ 54,296. While critics such as JD Vance argue that globalization has made companies please us by allowing them to subcontract the innovation adjustment, the evidence suggests otherwise.
In 2024, American companies again the world in patent subsidies in the United States – 157,955 – far ahead of China, Japan, Germany and South Korea. The technological sector only generates almost $ 2 billion in GDP and used 9.3 million Americans. In border fields such as AI and quantum computing, the USA remain at the forefront.
American deficits logic
Commercial deficits, or painted as a sign of decline, actually reflect the unique macroconic position of the United States. The United States finances these deficits through capital tickets, enabled by the global demand of the dollar. Like the most favorite reserve currency in the world, the dollar attracts the investment of corporations, banks, sovereign wealth funds and central banks around the world in assets, shares, real estate and new US companies.
This “exorbitant privilege” allows the United States to borrow in their own currency, while others must earn dollars to pay imports. Assets flow due to domestic demand, but also the capital does, compensating for the commercial deficit.
When they are channeled productively, these entries have long supported strong economic growth, as indicated by the Center for Global Development. These deficits are not inherently harmful; Its impact depends on how the capital is used.
In addition, the result of current business policies may not reduce fiscal or commercial imbalances. A lot will defend how they influence investors confidence and growth expectations.
United States policy failure
The true driver of economic discontent in the US. It is not globalization: its failure of internal policy. The global commercial order has worked well for the USA as a whole, but their earnings have a leg in an unevenly shared way. This failure of redistribution, not trade, encouraged the victim’s narrative and created a fertile land for misinformation.
Below economic rhetoric is a deeper geopolitical anxiety: the erosion of American hegemony, especially by a rising China. China is quickly closing the gap with the USA. In the sectors, the typical tensions of power transitions. Vance’s comments at the Summit of American dynamism exposed this concern: “The idea of globalization was that rich countries would increase the value chain … but as [poor countries] It improved at the lower end, they also began to catch up at the upper end. “
The United States, assuming permanent domain, is now dealing with the disturbing reality of competition in manufacturing, innovation and design.
This hegemonic concern is not limited to China. Trump’s tariffs in their first mandate reduced the bilateral deficit with China, but simply diverted trade to other competitors, calling their attention to new economies.
BRICS AGENDA
Meanwhile, the largest south led by BRICS+-S is expresses dissatisfaction with the dollar dominated system. It is exploring trade in local currencies, developing alternative payment systems and even proposing a common BRICS currency. Still early, these movements indicate a change towards a more multipolar global financial order.
The strategic objective of the United States is now clear: stop or block the increase in rivals before undermining US domain and the privileges that it entails. As the order -based order is increasingly reformed by unilateraism and strategic competence, emerging economies must respond with a collective purpose.
They must go beyond symbolic alliances and transform BRICS+ into a coherent economic bloc, promote regional commercial integration, invest in shared technological abilities and constructive financial infrastructure. Diversifying value chains and strengthening domestic resilience is essential, not only for growth, but to affirm the agency in an evolving global order.
The writer is a main unit of advisors, technology and skills, NCAER. The opinions expressed are personal
Posted on April 22, 2025
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