Trade has always created some interdependence, but a network can become badly imbalanced. Outsourcing production may remove factories along with the knowledge and skills needed to restore them. The rush toward a service-based economy can overlook who will find satisfactory work. Claims of an inevitable economic future should be tested against dissenting evidence instead of assuming one model suits every society.
Notable Point · 18:04-20:25
Trade dependence, outsourced skills, and service-economy limits
A discussion of global trade distinguishes useful interdependence from one-sided outsourcing that erodes skills and leaves an economy dependent.