Why International Trade and Investment Are Good for the US Economy: A Story in Eight Charts
Cross-border trade and investment are an important source of economic growth. Consumers enjoy greater access to cheaper, higher-quality, and more varied goods. Increased trade creates higher-paying jobs and leads the most productive firms and industries to innovate and raise standards of living worldwide. This doesn’t mean every single person will be better off, but on balance, the benefits from international trade and investment outweigh the costs.
The benefits to the US economy are narrated and visualized through eight charts, focusing on the significant expansion of trade and investment in past decades, the benefits to workers in export-intensive industries, the changing nature of trade in a globalized economy and the positive role of multinationals, how trade relates to overall unemployment, and trends in US manufacturing.
This video is part of an effort by the Peterson Institute for International Economics to invigorate its dissemination of reliable economic data and analysis to the broad public on important issues of general interest.
Narration and Charts: Cathleen Cimino
Animation and Sound: Daniel Housch and Jeremey Tripp