Economist Robert Scott of the Economic Policy Institute discusses the challenges that globalized trade poses for the economic well-being of the United States. Globalization of capital has lessened or eliminated many barriers to trade and put new pressures on traditional monetary and financial systems. If the new ease of moving capital around the world seems to threaten American workers, who see their jobs and way of life sailing off to China, what does it mean for workers in other countries? Are the current international financial agreements, many of which date to the mid-twentieth century, adequate to regulate globalized capital movement? How does the globalization of capital affect the power of the nation-state?