Zakaria vs. Reality

Fareed Zakaria, Newsweek International‘s editor, TV host, and best-selling author, thunders, "There are no serious economists or experts who believe that low wages in Mexico or China or India are the fundamental reason that American factories close."  

Economists aside, plenty of U.S. CEOs believe fervently in the attraction of low wages. As a Wall Street Journal headline once frankly stated, "U.S. Companies Pour Into Mexico, Drawn Primarily by One Factor: Low Wages."

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