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JACKSON, Wyo. (AP) - Federal Reserve Chairman Ben Bernanke cautioned lawmakers 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.
"Further progress in global economic integration should not be taken for granted," Bernanke told an economics conference that explored the forces of globalization.
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