Getting Globalization Wrong at the Washington Post

The Washington Post had a front page story in the Sunday business section headlined, "The Great Unraveling of Globalization," which told readers that the overseas profits of U.S. corporations are not growing in line with their expectations from two decades ago. Among the main complaints is that consumer markets have not developed as expected.

"Those vast new consumer markets in globalized nations have not emerged either. For example, Chinese household consumption accounts for about 34 percent...