The overwhelming vote last week to slow down “fast track” trade authority is a clear indication that it’s time for Republicans and Democrats to work together to negotiate a better deal for the American people.
Today, driven by a new technological revolution, national markets are being transformed into global networks of finance, production and distribution. Markets — for goods, money and even labor — are integrating across borders beyond the reach of national legislative bodies.
Globalization and the opening of markets have often resulted in lower prices for consumers and the opportunity for a better life for millions around the planet.
However, all too often, the benefits of globalization have overwhelmingly flowed to the most affluent and powerful, while the costs have been shouldered by ordinary citizens in both developed and developing nations.