Trade and Prosperity in the 50 States: The Case of North Carolina

This post is really specifically for my North Carolina client and readers as I have since lived twice in North Carolina.  However this case from the Heritage Foundation regarding NC could be applied to virtually any state which is to point out how open trade can benefit a state rather than closing your borders.

I have seen first hand the shift in various economic sectors within NC due to open trade.  The demise of the textile industry which used to be the backbone of the state.  Furniture making which has been taken down as well.  On the contrary the Research Triangle Park has become the akin to the silicon value of the east when it comes to medical research.  Manufacturing companies have also found more favorable business conditions in the state as well.

Full Heritage report here

• In recent decades, North Carolina’s representatives in the U.S. Congress have been relatively hostile to U.S. trade liberalization. Primarily, this is due to the influence of the state’s large textile and apparel industries seeking protection from lower-cost imports. Yet even as these politicians have been seeking to block markets from competition, some sectors of the state’s economy have been thriving in the global marketplace. Every Member of Congress who is facing a vote on trade-related legislation should consider the impact of that legislation on every worker and family in his state, not just on one sector. Everyone benefits from the lower-priced goods and the increased number of jobs that go hand in hand with free trade agreements. In the 1800s, North Carolina’s congressional delegation strongly opposed protective tariffs as unconstitutional. Today, their successors should return to their state’s free-trade roots and champion trade policies that will help bring greater prosperity to all the citizens of that great state.