Economies had time to adapt when it was regional and slow, as opposed to today.
Economies still have time to adapt if they are smart. This means having the proper political and cultural stance, which the US hasn't been strong on in the past 20 years. What you're describing is a political and cultural problem, not an economic problem. The economic issue is fairly unchangeable and essentially good. We lack the political and cultural fortitude to make adaptation work well. We are struggling because we our culture is overly consumerist and doesn't save, and because politically we can't operate long term.
The US did this because it sought to open huge new export markets; we were the only fully industrialized country standing after WWII and wisely sought to take advantage of the situation by preaching the virtues of "free" trade, although in hindsight this short term gain was not worth the long term effects as we're seeing today.
Not worth the effects? The US has been the world's sole superpower for almost 25 years. Our per capita GDP is almost 25 times that of China's. Our military supremacy is unmatched by the rest of the world combined. We didn't arrive at this position because of a mercantilism/imperialism, we did it by promoting trade and lifting other nations up... the better other countries do the better we can do. A rising tide, trade, lifts all boats... and our boat is still the biggest. It's not zero sum. The growth of world per capita GDP and % of people NOT living in poverty over the last 50 years is unheard of in human history and nothing short of extraordinary. Life expectancy and literacy figures are similar. During this time, often referred to as the "long peace," war and violence has decreased quite dramatically. Win.
For some reason you want to hold on to a point in time and somehow preserve it forever. Not only is this impossible, it's disastrous. Just like in any other time in history, but much more so today because of the speed the world operates, we need to expand knowledge, innovate, be dynamic, push technological advancement, and LEAD. We need to be on the cutting edge of change, not holding onto the past. We are either going to be in the front seat or the back... you want the back. You want the economy of a developing country.
I'm not arguing that we are doing things correctly... we're not in my opinion. But regression, isolation, and overly restrictive trade is even more wrong.
And I would argue it depends highly on the type of trade you're talking about. One of the reasons Haiti is so poor in the first place is due to globalization; their farmers can't compete with US farmers on price due to the economies of scale, industrialization, and the fact that agricultural products in the US have heavily distorted final market prices due to farm subsidies. This creates two problems; it weakens the internal market for Haiti's own farm products because US foodstuffs can be imported much more cheaply than buying local foodstuffs and it causes Haiti's main potential export to the world, food, to be completely uncompetitive in the international export market. This happens to poor countries all over the world; their best avenues to accrue the wealth required to industrialize and rapidly start raising their standard of living is blocked by more established international players.
Fantasy. What they need is political and economic stability, and for outside investment to be brought in. Trade will lift them up just like it has with every other nation on earth. The evidence of how nations advance and grow is irrefutable.
Globalization is a different side of the same coin of "trickle-down" economics; it's a race to the bottom with those with the cash to exploit the system being the only ones to benefit. "Free" trade is anything but free because most prosperous nations DON'T have liberalized markets when it competes with their domestic markets. The powers that be that control the US have absolutely no interest in protecting our own domestic industries in a similar fashion as evidenced by the rust belt, the decaying manufacturing core of our country that resulted from unfair, lopsided "free" trade agreements with other countries.
lol, trade drives progress. If we don't adapt to progress -and we aren't doing it as well as we could- that's
our fault, not progresses fault. It's like trade is a supercharged V12 in our car, propelling us forward. Instead of tweaking the engine to give us some more HP and better mileage so our journey is even better, you want to put in a rusty 4 cylinder. Give me a break, we need to tweak our engine, not dump it.
Nope, I call a redo. We still have the largest economy and military on earth, so we still control the game and can change the rules at our whim.
More fantasy, and very arrogant one at that. Our whim? You are correct in that we can change OUR rules, but the rest of the world will continue the path, while we quickly fall by the wayside.