If you wonder what has happened to the job market in the USA read this.

International Trade Agreements have given virtual free spin when it comes time to invest in America or invest in low wages and no EPA regulations in third world countries.

(This article is public domain from the internet)

In 1960, American businesses held about $34 billion in foreign direct investment: the business subsidiaries, mines, sales offices, factories and research labs they operate abroad. This was the equivalent of about 6 percent of GDP; by 1980 the figure had risen modestly to 8 percent of GDP. The perception that it has risen quickly since is correct: America's contemporary array of FDI holdings are valued well over $3 trillion, the equivalent of 22 percent of GDP.

Public debates on trade and globalization also suggest that direct investment in big developing countries has been growing fast. This is true: America's direct investments in Mexico are valued at nearly $100 billion, up from $40 billion in 2000 and $10 billion in 1980; those in China at nearly $50 billion (not including the very large investments of American businesses based in Hong Kong); and US FDI in India is approaching $20 billion. But actually America's investments in rich countries -- in particular European Union members -- has grown even faster. By December 2008, American FDI in the European Union was worth $1.63 trillion: 52 percent of America's total FDI, up from 47 percent in 2000, 41 percent in 1990, 39 percent in 1980 and 19 percent in 1960. The top destinations are Britain and the Netherlands, each home to over $420 billion in U.S. business investments; Canada is not far behind, ranking third among individual countries with $227 billion. In total, rich countries have about $2.3 of America's $3.2 trillion in direct investment stock abroad; Caribbean tax shelters, Bermuda and Persian Gulf oil producers add $360 billion. China, Mexico, India, Brazil and all other developing countries together account for only about $500 billion.

Foreign businesses, meanwhile, hold $2.3 trillion in FDI assets in the United States. Britain easily leads at $454 billion, Japan and the Netherlands tie for second at $259 billion each, and Canada is fourth at $211 billion. Again, controversy over individual developing-world investment proposals can mislead. Despite some recent arguments over Chinese and Persian Gulf investments, Chinese FDI holdings in the United States are a modest $1.2 billion, and Arab-world investors hold about $8 billion. By comparison, Singaporean businesses hold $10 billion, while Nokia and other Finnish firms hold $12 billion.