Document Type

Article

Publication Date

2011

Abstract

The village market of old has become a global market today. The products we use or consume on a daily basis are produced all over the world. Asparagus grown in Peru, coffee beans harvested in Guatemala, shoes made in Italy, and Japanese automobiles are all readily available to consumers throughout the United States. Moreover, U.S. companies—even small U.S. companies—have their products manufactured in foreign jurisdictions where labor is cheap and the necessary raw materials are plentiful. And those U.S. companies who do manufacture their products in the United States nevertheless often obtain their parts, components, raw materials, and supplies from sources located outside the United States. In 2009 alone, the total value of imports into the United States of all merchandise— from computers, mobile phones, and Malbec wine to capital equipment, heavy machinery, and oil and gas—was a staggering $1,559,624,813,477.00, more than one and a half trillion dollars.1

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