The article traces globalization from 1989, when APEC was founded and the Berlin Wall fell, through the creation of the WTO in 1994 with 164 members and China's accession in 2001. It argues the gains are real, with more than 100 million people in developing countries lifted out of poverty and China's GDP per capita rising from under 500 USD to over 14,000 USD. However, it says workers in developed countries bore losses, with the U.S. losing 4 million manufacturing jobs from 1990 to 2008, and cites the 1941 work of Paul Samuelson and Wolfgang Stolper, which showed that free trade creates winners and losers and that tariffs could protect real wages. The article also notes that Chinese brands now hold more than 85% of China's phone market and that Chinese electric vehicles are threatening the survival of Japanese automakers.
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Original headline: Toàn cầu hóa đã đến hồi kết?
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