It’s no secret that the world is getting increasingly interconnected, but many Americans still see a clear separation between the United States and the rest of the world regarding economic policy. Dr. Raymond Robertson, director of the Mosbacher Institute for Trade, Economics, and Public Policy, paints a different picture. “It’s a lot more accurate to think of North America as a single market, both in products and labor,” Robertson said.
Robertson primarily studies international labor markets, especially in Latin America, and has researched how post-COVID-19 influxes of migrant workers can create jobs in the restaurant industry rather than directly compete with native citizens as commonly perceived. “Having more workers allows restaurants to expand, increasing demand for labor across the board,” he said.
Though Russia and China have hogged the spotlight for their recent impacts on the world economy, he singled out another trend in Europe that could tremendously affect American businesses. “The European Union is making a big push to regulate multinational corporations to address perceptions of poor working conditions in developing countries,” he stated. These regulations would hold corporations accountable for the factories they buy from, even if they do not own them, creating a worldwide ripple effect on the prices of manufactured goods.