Doing this has actually increased the wealth of people in those other countries — income inequality has decreased worldwide, with fewer and fewer people living in abject poverty, and hundreds of millions of others beginning to enter the middle class. But in formerly rich countries, many people who used to be paid well for their work now have to compete for lower-paid jobs, while those who already own meaningful capital take a larger and larger share of the pie.
What Paul Graham Is Missing About Inequality
Tim O'Reilly
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Exactly — Globalization is what created income inequality in developed countries — resulting in Brexit and Trump’s election. Yet, globally, people from undeveloped countries no longer live in abject poverty. The US economy is now the World economy and jobs that once fueled the steal belt of the US will not be returning due largely to automation and computerization. I also suspect, that AI and blockchain will ultimately impact STEM jobs in the same way. Once this happens, look out America, because skilled educated workers will also feel the impact.