The "theory" behind globalization is that each nation would export what it does best and import where other countries have better more cost effective products with the expectation that the two way trade would roughly balance. What was never foreseen was that companies would shift their production to the low wage countries and lay off their "home based" employees. This has lead to huge trade deficits in some countries and very large surpluses especially in China, which is still a non free trade market. Globalization will not work so long as there are economic winners and losers.