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This report focuses on globalization which is seen as a force that enhances the power of the market and gives greater scope for realizing the gains from trade. This is an enriching process, with improved economic well-being growing out of increased specialization of world production and elevated economic efficiency. To others, however, globalization is seen as a clear threat to their economic well-being, perceived to be retarding the growth of worker wages, increasing wage inequality, undermining domestic social relations, and raising the exposure of the American economy to foreign economic contagion.