tv Effects of Globalization CSPAN April 28, 2017 4:20pm-5:32pm EDT
warm welcome to mr. steven greenhouse. [applause] good evening. welcome to this topic of discussion it is so bright i forgot my sunglasses. we are discussing a hot topic made harder by the current president of globalization in has been in the news president trump is against it even as chinese companies are offering to invest $4 million we sea article after article even as economists strongly agreed that free trade will spur economic growth slowed to rail against
globalization are the of beneficiaries or like wal-mart shirts made in bangladesh or the mobile phones assembled in china. we have an excellent panel of experts the world trade center was angeles previously served as of glossy angeles secretary general and to mayor varsity from the ports of los angeles catherine is an expert from the ucla school of law and the sage fellowships for her work with the globalized world for any economist at the ucla school of management where he focuses on thesc asian economy also works on the economic modeling and
then the founder and ceo for corm that helps governments multilateral development banks shape their public policy and their strategy inh support of trade andeg obligation. president trump said last june in a campaign speech in pennsylvania where there are steel mills that it has made the financial leap very wealthy but has left millions of workers but nothing but heartache. >> when you think about globalization the question is isn't it obvious? and we'd just say yes and then skip to the reception. [laughter]
but the reason it is not is the data is convoluted with a lot of things going on there is one major even to that keeps us from getting to the root of this. at the same time we have had globalization we didn't see this with the early times of nasa but over the last 15 years in the same time we have seen the rise of the robots and that means firms far substituting labor but also those are compliments with those intensive workers with the bifurcation so we
see much more inequality and that would occur so we looked at the data then you have to unravel what is more important to get to solutions? >> with an op-ed in "new york times" last june -- last june nearly 60,000 factories have closed much of this is related to the agreement then he added the global economy is an economic model from the economic elite. >> to pick up and defer a little bit is certainly true there has been a drop of manufacturing employment
since the year 2000 and there is a huge rise of productivity which reflects a big boost in automation and technology but focusing on trade different economist have differed as to what was more responsible and talking right retreating to million and 3.5 million to see the results of trade with the rest of technology putting up lower responsibilities for trade but there is no poubt from not point of view that consumers benefit in some type of workers benefit but at a cost for of the problem with globalization
or global trade there is winners and losers but they have not been adequately supported in any way or have benefited from social policy of other economic programsthat that would make them winners as well. >> when i read though world is flat i came away with the feeling that globalization is great for companies they i can invest anywhere in the world where production is cheaper that is great for them and for the bottom line maybe in india but the thing globalization benefits thenk elites? or those in the industrial
world? or the developing world? >> of course, it is like textbooks like the embattled chinese trade so these studies are very textbook to have these gains for all consumers but that is otc in the studies far some competing fax but on balance in multiple studies have found the impact on the economy they are more efficient as a result for all of us sitting in this room because of the shifting
and sorting going through. yes we have to do that but we are at the verge of an opportunity where it enables people from every walk of life with the workers on the of platforms with 160 million spirit 5% of companies' export.look at 97 percent of them export these are the drivers of globalization that we could
encourage the workers with the globalization. >> with the nation's largest port holly guilt -- hollywood did little exporting as well who are the winners of globalization? is the state really benefit from globalization? >> california has benefited greatly from globalization and there are discussions but look at history over the
last 70 years to see u.s.ho participated and dominated in the globalization effort and now that there is competition becomes a bit harder to swallow up that point. yes there are winners and losers from the beginning 67 years ago because of our proximity to asia with a manufacturing base in china we benefited more than anybody else. as they come to the port of los angeles and long beach so that trade sector benefited greatly where we export to lot of those goods international as well. want to take notice something that was said
earlier that you mentioned with the free-trade agreement were these factories are empty now want to make sure that we know the main target of b.c. the decline of these factories please note we don't have a free trade agreement with china. >> so imagine riyal taking a stroll one buys the samson and tv with shoes made in brazil and that is in question to the wal-mart shoppers caddied think they would answer? and how would you respond?
>> first of all, how did you get my copy list? [laughter] i think the answer is yes. of course, especially living in in dayton ohio yes it hurts workers and helps the elite so the gains is easy but they go to different places and the problem is to treat all of those industrial markers and that is the point that was made earlier some of our in their '30's compared to the new
economy with guidance. so that takes a different type of policy that use hammers or scalpel's to solve those. but another? point but we are manufacturing 160% in 1990 with 60 percent of the workers so lot of things are happening in this economy and a trade is one of them. >> let's say we take a stroll in ohio then you find
off the laid-off steelworkers we used to work in steel mills and related off but the economists say globalization is great because consumers more choice. we know what they will tell you. >> they will say might be great for them but not fore us in places like youngstown ohio or outside ofrs pittsburgh or detroit pitcher care laypeople who have manufacturing jobs in the past high-paying jobsod with good benefits like union and those are gone. but the jobs in the service sector are very low pay. so they look at fast food tork
establishments or part-time in retail. so what has happened the high-paying jobs have left in the low-paying jobs fill in the gap actually multiplied there has been a huge shift with the service jobs but they are continuing to do so.ng in manufacturing jobs are predicted to continue thee decline so what should be done? nobody says the home health aide has to be a bad job it could be a good job listed the hours and benefits and a union.fact tha so in our economy it is true
it is very hard for people to support themselves or pay their rent if they owe me earn $8 an hour but one thing that would be changed would be the labor laws to make easier to unionize with bargaining power. also think about retraining or other social benefits and make it possible for people to re-enter the workforce and get some bargaining power so when they get new jobs they are better than the ones that they losteing a rather than the one that they declined. >> using the phrase of globalization to increase efficiency and economic growth worldwide why does
globalization get a bad rap? white is president trump and some letters attacking it if it does the general good? >> is specifically my factory move to china but so much of this has been changing technology. the factories in china with those three the printers in this a major adjustment in the labor markets where we evacuate to the new economy some of you may rememberme around this time the story about two ladies in a factory in india at the time tih
when they were moving to mexico. they said if trump does not deliver the now 100 do miles down the road you have a guy who started his own business with retailing motorcycle products and he started to sell them on line today he exports to 130 countrieses 40 percent of sales come from exports so from india or else salvador these are the people that are riding on globalization. so for the first time it is possible to have that the global level for sellers and
buyers come together. right now we can do this but it takes export promotion. >> germany has more globalization than the united states as we talk about trade and globalization, so why askou why it is a guess the j. bad rap here? and one reason we do not do enough for the losers. so why do you think? what about the united states prevents us from doing enough?
>> to comeback a little bit to the principles and the theories of competitive bid vantage with the anniversary of his publication hear it shows if you have countries with vastly different resources that there still both benefited by trade but it does this say about the different groups within thebo countries are benefited so those at the top with the egalitarian way so the question of the benefits from trade are those execution mechanisms to notio just compensate the losers but actually be structured in the way the labor markets work to make it possible for everybody to flourish so the
problem is we have gone in the opposite direction with massive right to work laws enacted with attacks on public-sector unions everson ronald reagan federal policy sot to weaken the union so reticent a surprise that unionization rates have fallen and workers who have lost in the global marketplace that don't have the resources themselves to be empowered to protect themselves. >> i would go to the trade show but those in the united states are very innovative
and to be number one. what? obesity? [laughter so we are proud of the past and not about those two ladies earlier they want trump to bring back their old jobs bed down the street they are looking toward the future. >> especially with a lot of manufacturing. the lot of those components directly to mexico and 60% of theirs, and here in reintegrated in that approach the that is exactly what we do of also the
cultural aspect as contributed to that from the next-generation as we train our workers to know about e-commerce and 95 percent of the consumer to have that purchasing power that is outside of the united states . america will not be number one of ricans tinny to think that we are on the global economy. so changing that view will get us to the step to do something about it if we look back and think let's go back and afraid we may look too far in the past. >> with a couple of comments related to the discussion to tell us about the winners and losers is the theory of international trade but we
will have increasing inequality in places like china but there are a number of things going on better kind of important with the second comment there is no case in economic history of the world where protectionism has increased the lives of the country but if you take argentina 1911 it was the ninth richestst country in the overall but since then protectionism was quesof them. it is easy for politicians to say somebody took their job but it is harder to say your job is not coming back
so appear are the things we will do to help the economy i would submit the first one is the easier way to getie votes spirit raising the issue of coulter as solid you have said those manufacturing jobs have been lost if you look at hollywood i imagineel globalization has created a lot of jobs. >> we cannot just think of export and import especially after a recession coming from asia and in china and by the way from korea or the u.k. just focus on china for
a second. we have seen the boom like we have not seen with majo chinese investment. >> patel again let's not tonight the investors who will gain a lot of returns however there will be the construction workers by the way we are creating new hotels and the resident with the convention center that canal attract big conventions because if you look at san francisco or los vegas with their hotels they can attract conferences but for us within a few miles radius of the stable center con
where the convention center you don't have enough hotels to sustain that. so now you have more jobs in various sectors so yes theyef will benefit more. yes people will benefit as well but not to the same extent from globalization with competition with those people that will not be winning. >> with those sectors of the unemployment the last couple years those are good middle-class jobs. so it isn't only deal beats that have been supportednstructi downtown los angeles. >> yes because the percentage of construction
declined with wages other has been a drop-off of wagesuctw nationwide over time when is not quite the path to success that used to be for high-school graduates. and unfortunately the hotels are low-paid jobs. so the problem is they don't give the kind of stability in life. it is unjust trade i would never advocate to adopt those policies but i do think what we need to focus on a dozen additional measures that can somehow compensate for the effect not just trade but automation to they want
long-term stable employees? the of flexibility flexibility, unchanged their skills and because they have less competition all of those translate into human-resources to have a stable long-term job your life that was normal 30m years ago is not available anymore. so we need those policies to phyllis gap -- bill and theon gap. >> hollywood. yes. as an example there is a company that invested and the legendary films so obviously with this infusion of capital that will create f some jobs there the second
part allows us to do the part during with those in china that bought the amc theater chain sinope can potentially see the great consumer base. >> adjust the export of services around the world what does that mean for the california i.e. economy? with the shareholders of apple or facebook or global to benefit the non the viet. >> we tend to have a trade surplus and a deficit of goods because we deal more in information in california disproportionately so. it's not only the leaked put
the well educated with that skill class that does not benefit those industrial workers do tool host of things including globalization or the changing economy so you have that group of workers that are hurt to the major transformation and we have seen this before with economic history sometimes countries don't survive them sometimes they do. >> one of the major industries in is agriculture from those countries south t of the border and california like every other state you
have donald trump and others condemned agriculture. is globalization good for agriculture? or do they attack that unfairly? >> the board of oakland has those agricultural goods from the central valley. so the use the issue aboutth our workers and of those in gauging and harvesting of have to take out those that use computers to drive tractors in the midwest about half of them undocumented. i am corrected many are documented just not the right documents. [laughter]
if government policy runs to a mass deportation we will see higher food prices and more imports so to be concerned of globalization for workers will be doing jobs that they will be picking food in their country shipping to the u.s. and causing other jobs like food-processing. we had one similar experience in 1942 berger 40% picking fruits and vegetables were ethnic japanese. and during the intermit the disappeared so that high school students went out to
pick strawberries and you could do that because of the war effort but they don't take those vacations today. [laughter] >> ac in today's headlines trump has plans to cut the state department budget by 20 percent he was to renegotiate nafta also talking about the role trade organization to take advantage of us in trade so mexico to give vantage of us but vacancy trump to create a fortress america trying to stop the world to turn globalization back.
am i imagining this sort emi paranoid?pp did they really try to for a fortress america to put a brake on trade crisis that could for america or bad? data were good? >> guess we won the election fed through the studies and simulations done with the result from candidate cho that the time the leader so integrated in north america that we lack those supply chains if benefits us period benefits workers but the economy is so integrated that those tariff barriers
the we experienced in the 30's in argentina but mostly was about the perceptions of other countries or the retaliation or what actions they take as a result of us. perhaps try and others would eat our lunch. >>. >> i think it would be a terrible mistake in if you don't have that grievance that is a better way to do
that you have with the intellectual property into protect investments but bay have done very little with those bilateral agreements. . . we can manufacture, we've manufactured before. what happens in the in between face? how do your capitalize or invest five. they could go back in and train your workers and get the supplies.
will you buy it from? where will you get your natural resources? the idea that we can manufacture is of course he can but it will come at a cost. you can no longer go to walmart and buy your five, 10-dollar teacher will you pay $35 for your teacher that you are getting $5 how you pay for it? who's to pay you? those are the questions that i'd love to hear the administration layout the plan and were waiting for it back to comments. one your question reminded me of a bumper sticker. it went something like this,hi because i'm paranoid doesn't mean noise after me. [laughter] >> the car behind you is after you. if we were to take this tact of drawing from the world it would
crash the auto industry because it has been stated that our auto industry is integrated with the mexican auto industry that eventually we would start building cars ourselves but it's hard to drive a ford f1 50 without a motor.t' it's a little hard to use an iphone you have to assemble it yourself. you have a number of industries that would crash. we would have real serious repercussions for labor and capital that i would see a change in government.govern >> two quick questions before we take questions from the audience as someone who's written a lot about labor over the years, the big concern to me is how workers would use, bangladesh workers are treated there. the workers are paid very little
there's horrendous disasters, 1130 people died in the building collapse, hundred 19 workers died in fire, fax kind which the main manufacture of iphones in the world was known and has been known for unsafe conditions in very bad it seems to me that in the industry world, their taking advantage of these countries that the elite is taking advantage of. what could be or should be done about this? >> again, i want to talk about the cultural aspect. we look at these poor, undeveloped countries and were taking advantage of the. what if i told you right here in los angeles, just two years ago there's an organization called the pacific legal center and that organization fought the case against high government workers there were trapped until monday.
the slave labor is happening right here. it's internationalized. i'm not justifying that but it's happening here. what needs to be done is public policy across the board that does allow for slave river to allow be here or there.includin we have a clause for interpretive labor and it's not the best but it's the first time were able to move forward. that's progress. were basically forcing the countries trying to get into tcp to adopt labor standards, no child labor, and a slave labor in order for vietnam to join they have to change their constitution to allow the unionization of workers. those are the type of policies that globally we should encourage and have our elected officials take a more social justice focus stance to make sure that.
[inaudible] it's not just basically looking at the leads working to make sure we protect the most vulnerable population across the board. >> i think that tcp/ip does have a good labor protections, it's a model amongst trade agreements and the fact that we pulled out of it is it will class now and so that may not survive. the idea was to take? there are internationally recognized labor rights in standards that have been propagated by the international labor organization and many other organizations. they had joined in and there's no reason they could be built into these trade agreements. it doesn't mean everyone has to have the same minimum wage but it might mean everyone should protect the right to organize unions. or should protect against child labor. or protect against forced labor.
one thing is to make these -- we need to have enforcement mechanisms mechanisms. the trade regime couldn't build this in as part of the architecture of the global trading order and that's what i think we need to be moving towards back last question. talked about how they think globalization could be improved. i wanted to invite the two of you to conclude by what you think could be done, should be done to improve globalization to help the losers make it less painful for not just americans but people around the world who are hurt by globalization start. >> i'll start. we talked about the winners compensating the losers. it's very clear who's been going
up in the last 15 years and has been not. it's pretty clear where you would find the funds. it's a little harder to design the policy district maybe it's harder to get those funds but it's harder to find the policy because there isn't a blanket policy. individuals are different and circumstances are different. you have to come down to the s micro level on that. so, that's one aspect of your question. the second which i think was addressed with respect to labor standards is also true about pollution. if we think it's bad to put lead in the water, maybe we did. [laughter] because it's bad for ourse it is children have to think the same thing about chinese children and bangladeshi children. the notion of fair trade is yes,
you have comparative advantage in textiles but you're not going to get your comparative advantage by not paying by not incorporating the cost, the full cost of production. right? were not going to buy cheap close on the back of children of bangladeshi children. those are the kind of agreements that would fix some of the inequities that exist globalization. we have a domestic policy for those who need go through this transformation and international policy to give better allocation for materials across countries.l >> do you want to add? >> we are facing a choice here. do we want in america that takes these workers whose jobs are being taken over or by trade or
whatever issue or do we want in america where there are guide like traffic came out of college with $7000 started an online business and is now a global center. what do we want? then you have to adjust our policies to do that.ou i would start with education. travis came out of college which showed amount of knowledge and skill. to be able to do what he is doing. that's number one. i would also start with trade policy as mentioned, it only had new labor laws but it also had a gold standard digital economy on e-commerce chatter. that enabled guys like traverse to get to other markets, exports , use their ingenuity, use all that we have here that is unrivaled in the world in terms of technology, in terms of ip, in terms of innovation, all
of this we haven't ample supply here. how do we harness this and how do we enable people like him to become label exporters? there are studies that show that anyone from anywhere can become an exporter. you can become an ad designer somewhere in the middle of america and you're much less location dependent then you were ever before. you could be anywhere in the world and running a global business essentially.hat th do we want to encourage guys like that in ladies like that? or do you want to protect our free economy. >> there are two of us going around with microphones and will come to you. is
say your first and last name before you ask your question, we greatly appreciate it. the session is being recorded and will be published on a website. will also be rebroadcast on c-span at a later date. >> hi, my name is icy. my question is about the last bit of what you're talking about in regards to education and environment. how are these two affected with globalization? you're talking about accessing ability like people like travis becoming multimillionaires or whatever that education is superexpensive, so where does that ability come in. i want to learn more about globalization and the impact on the environment. i was. [inaudible]
you had a few diplomats were talking about to the audience and they didn't have answers to fracking whether the closet included or not. i'm curious to know about how these trade policies affect? do they think about the environment or not. >> thank you very much. jerry? >> let's start with education.ty the critical issue for the first entry is workforce development in education and the way in which technology has changed our world and will change our world is it's no longer going to be the case as it was when i was growing up. you finish school and you graduated? some of us are still there. [laughter] and then just stayed. not everyone stayed at a university.
at any rate, the education will be lifelong education, keeping up with the changes in technology. i think education is a growth field. in terms of the policies, this is the most critical issue for a globalized world. >> following a request. in inequality has increased, the people on top often seem reluctant to fund an increase public education. so, in ways the increased inequality is making the education picture work, i think. >> i would agree with that. were going in the wrong direction. >> this is one of the distributional policy that we need to address. if the want to have in egalitarian globalization then we need to make education
available. we can't just make it something that only the elites can pay for and squeeze out public education it should be going the opposite way. >> also need a very practical purpose. a lot of the companies investing in the united states come for the talent. there's an education gap. they keep going after the cal tech students but you should be able to help the coders. there can be folks going to santa monica college or pasadena college that have the full of the ability to code. it's a mix of everything and if our political system doesn'tsysm fund the education system, not even just the college level but trade tech and trinity college level, it has to be a comprehensive so we have a supply of educated and also trained individuals to supply that demand for our workers. >> i have to say in that regard that here in california our legislators understand this.
our governor understands it. funding is always difficult butm at least they understand the problem and know the direction it should go in. they're trying to nudge it in that direction unlike some states such as kansas that needs their supreme court tell them to minimally fund k-12 or texas is cutting in louisiana. were fortunate california. the us as a whole has not adopted the same view of the importance of education for the globalized economy. >> i would also like to add. terry brought up the issue of lifetime learning. in the old days, you would get your education, whatever it was, by the time you were in your early 20s and it lasted you your whole career. it doesn't do that anymore. you need to have periodic opportunities for retraining.
that he has to pay for and they have to pay you for the time you're there. we might think that taking our unemployment insurance for example make it the people and get some kind of support. maybe not to live like elites but to survive while they're going through the necessary retraining that today's labor market requires. >> we address an environmental? quickly? globalization is very important in different in some ways we talk about the mobile issue were talking about los angeles in the 60s and 70s were known as small capital of the united states. now, a lot of our manufacturing letter and has gone where? china. a lot of the pollution issues are now therefore it's been over there. trade policy like tpp, again, not the perfect solution foror everything in life but the thing
that's been attempted to address environmental issues and regulation by talking about anti- illegal logging and anti- illegal fishing and things we didn't get to carbon emissions and is called that's very important. the question on the bigger levee is should a tree policy be addressing everything? should a financial policy be addressing child labor? would environmental regulation worldwide in paris that were pulling out of, by the way, should be the standard for environment regulation those are the challenges that we have to face. these are the things that people are looking at tpp and other trade agreements to resolve when they might be multi- approach that should be addressed rather than focusing on using the trade agreement as an avenue to address all the issues. >> to follow up on that. this may sound futuristic but it's closer than any of us realize. technology is also changing.
in the 1990s, 2000, when tom freedman wrote his book globalization was essentially about these giant supply chains created by companies like ibm, walmart, to get the parts from all parts of the world and assemble them and then export them to the us or europe. that created an enormous amount of trade in terms of the volume of movement and created pollution, alternative issues, congestion but now we have 3d printing. this is changing the game for components but no more have to be transported on the planet. you can put them on site. is changing corporal supply chains. this urban enthusiasm in the 3d printing unity because of its environmental impact are so positive. you can read a lot of these transportation. we have more e-commerce and. [inaudible]
thirty or 40% growing and national trade circulating. so you have this cultivating pressure there. the interesting things happening with 3d printing, that can help streamline some of the supply chains and enter international trade and reduce the cost on the environment. >> expedition. >> high, thank you for this opportunity.mu my question is about redistribution and composition. as jerry mentioned, i know there's not much fun. when we think about fund multinational companies like apple or starbucks not paying the taxes during the us for example and that is one of the reasons globalization recently is getting beat. do you think there is an issue
with tax policy regarding multinational companies? do you think there's a better system? also, a lot of the ideas about labor laws are from public sector. are there anything from the private sector that we can do to show that globalization has more merit? >> there are many questions in there. i tried to break it apart. first, in the private sector do something about the labor issues and other issues. yes, they can. they will come i think. our purchasing power becomes the action. go back to the environment regulation, as well. girl scout cookies. remember they were making out cookies a couple years ago and
they found out that it was made with palm oil. indonesia there burning before and scraping it clean to get the palm oil. you start seeing often orphaned orangutan and i started seeing them and bawling and crying on tv. the girl started on scout saw that. as global consumers have the power to do so but we just need to be educated. we can't become complacent and say i don't know about it. we can know about it and we should know about it. i agree with you, should it just be government policy from the government does that basically you have a big battle to the private and public sector. i'm trying to think of part of your question which was, text policies. yes. [laughter] text policies are always going to be tricky. for me, on a personal level i
benefited from a public education. i drive on the road of los angeles and i benefited from effective public policies have created cleaner air for me and i don't have to drink let water. i believe in taking taxes to contribute to the atmosphere that produces who i am. companies do the same. if they want to reap the benefits of what they're getting out of the, then they need to contribute willingly. there should be a more just system. how do we do it internationally? i think that's why if the globalization that will get us on a similar standard. we won't be there by fighting with each other and not talking to each other. we have to come up with amm unified system, at least for education and addressing those issues. this is the part, let's go back in terms of what it be better for us if we knew that texas was coaching from us.
would you feel better thousand jobs toyota, i'm not mentioning names, or tennessee is taking nissan and taking almost obsolete. it's not international but it's the same thing. in the micro level still experiencing it but were not taxing texas the same way. the tax policy does matter. texas has more open text system to allow people to go that way. the complexissue and i don't think anyone can have a single solution if it so easily available than it would've been solved. >> on the other hand, the states like tennessee and texas provide fewer of the social services that you value. by the way, california has addeh more jobs than they have. tax policy is complicated but what the european union did successfully and what you're
suggesting, i think, is both good domestically states and internationally as policy is tax harmonization. to have tax harmonization there is no real value in trying to gain the system. each jurisdiction get their fair share of taxes. in the us we have kansas that doesn't want to provide social services in california that does you need differential taxes and that does cause. [inaudible] you have that internationally as well. >> california has a better education system then kansas and that attracts a lot of business. >> if you read my article,e, you'll see that. >> my name is kent. my question is regarding trade agreement. recently, britain had the bracket and they didn't want to
have the european union decide all of their trade agreements and trade laws. is there any advantage or disadvantage to having a group trade agreement versus a bilateral ones one country and another? >> one of the things that happened was the concern of sovereignty. this is a concern in some of the anti- trade political movements inlet in europe and you hear this now in the us with trump is that we lose our sovereignty that we have trade agreements and other tribunals or other international institutions that tell us what we have to do about environmental standards or various other kinds of things. so, there is concern about sovereignty. the question is what the appropriate level of decision-making. what things do we want to have decided at a multilateral level and environmental protections
and tax policy. there's a lot of things that make sense to do multilaterally that doesn't mean every single decision gets made at some invisible organization that you don't have any control over. the issue, the problem was of sovereignty gets raised as people feel they lost control of things that matter to them. so, that gets exaggerated in people's minds. i think that's the brexit concern. now i've forgotten about the rest of your question. [laughter]ta >> any advantage or disadvantage to either system? >> bilateral agreements are quite limited. their limited in scope. you can carve it much more precise terms and it's muche easier to monitor them and force them.
if you're the united states, you're the top person in the room and you're dealing with this little country you want to have a bilateral agreement you can dictate the terms of it. there has been a move to bilateral trade agreements in the united states, precisely because the us can dictate the o terms. it's much harder when you're working multilaterally but if you actually want to come up u with some kind of regime that does deal with these big issues like environment and honestly, labor standards you need to think multilaterally back will jump to our final question. >> charlie. [inaudible] so in love and.
[inaudible] >> let me take the first step that. if you look at los angeles, los angeles, it looks in every way like silicone valley and if you look at orange county at the western part in north county san diego, they all look like northern california. what were seen in southern california is that we remained a manufacturing state, manufacturing region much longer than the bay area did. our transformation is just happening later. yes, we have more losers here from globalization but we have winners to. >> can i add to that as well? i think that's a great. but when we compare size and geography, san francisco is a fantastic city of 500,000 people
la county is ten-point tont nown million. los angeles region is 18.4. the city of san francisco in size within the neighborhood of los angeles. it can fit inside santa monica region. >> santa monica and venice and the economy look similar. so when you compare back to back , were actually the same. but when you look outside of it, of course, if you compare and let's bring salinas into the picture. if you compare them to other places in san bernardino. i think, -- >> add to that, silicone beach. as i looked at the latest numbers on venture capital there's a lot of base now happening in las vegas. there's a transformation happening albeit a little later but it's coming.
hopefully, their feeling the enthusiasm that we have here helping us along here as well. i think this economy is poised for the digital era and exports in the digital exports just by virtue of that. there's a convergence of the. [inaudible] there is a natural alliance. to enable that and bring some venture capital here and set out to the international marketplace it's powerful. the primary example of entertainment, digital company but it's globalizing and adding three times more users for any given day from the us. the stories will multiply. >> to your point, los angeles may be the largest nondurable goods sector in the region in the country.
nondurable goods manufacturing tends to be low skill. that has been adversely affected by globalization and so, that's one of the things the nla. it gives us the impression that you described. it's a very real impression and something that has been going on over the last 15 years. particularly, the downturn in 2008 that was a transportation that we were talking were seen more and more of that. for example, silicon valley bank is go to santa monica, they didn't even change their name. they want to be here because google is here and blue is here and snapshot. the integration between the entertainment and tech, yet video games, gaming sector is growing, it's all growing over here. this transformation is happening
quite a lot. one point, as were talking about this entire night, it's been hard for me because were adopting the language of winners and losers. will win so much that we don't know what to do with it ourselves [in life, we've all won and we've all lost a little bit. there's it's okay for us to gain a little and give a little back but to have this definitive term of your either a winner or loseo , then you're nobody, you know, it's hard for me to swallow that. >> thank you. thank you wonderful panelist. i learned a lot listening to before and let's give it up to them. climax climax we like to think our co- presenter ucla and the national presenters
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