Trading Myths: Addressing Misconceptions About Trade, Jobs, and Competitiveness

Many policy makers in mature economies are pinning their hopes for growth on boosting net exports and bolstering manufacturing while domestic consumption is weak. A perception that their economies are losing ground in manufacturing to emerging economies colors their thinking. But views on trade, competitiveness, and jobs too often rely on myths. For this reason, the McKinsey Global Institute debunks six popular myths with the facts.