On Aug. 28, the Cato Institute in Washington, D.C., published a report, "Thriving in a Global Economy: The Truth About U.S. Manufacturing and Trade." The report confuses a company's offshored products with its import competition and wrongly concludes that U.S. companies with the most import competition are the companies that are thriving.

The Cato report never mentions the practice of U.S. corporations offshoring their production for U.S. markets. Consequently, the report con ...

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