But how many million labor intensive jobs moved offshore? Note I said million! 25 years ago international economics classes were stressing the coming affect of globalization. And the inevitability of labor intensive jobs going where there is an absolute abundance of low skill, poverty stricken laborer's.
Then too there was an effort going on to raise the value of the dollar; further hurting out manufacturing industry sector. When the dollar lowers, just a little, exports pick up measureably.