U.S. shouldn?t block free trade, Bernanke says

Federal Reserve Chairman Ben Bernanke cautioned lawmakers Friday to avoid the temptation to impose protectionist trade policies as the United States grapples with fierce competition from globalization.

Globalization has shrunk the world and made countries increasingly connected through economic ties. The opportunities for companies to sell their goods to more and more countries can generate wealth and boost living standards. That has benefited some workers, but has hurt those left behind in the changing worldwide economic landscape.

Bernanke’s remarks came amid higher trade tensions between the U.S. and China, and as global trade talks have stalled. Americans also are increasingly anxious about the potential of losing their jobs to workers in China and India, two emerging economic giants.

Against that backdrop, U.S. lawmakers ? as they have through the years ? may be tempted to enact protectionist measures to try to slow globalization.