10/28/16 Bloomberg Markets
It’s been a fixture of Donald Trump’s campaign rallies: Global trade is a problem for U.S. workers, and the source of their pain can be found in some other country. Most often Mexico and China get the blame, but the culprit might also be Vietnam or South Korea. These countries, the Republican candidate likes to say, are “eating our lunch.”
Turns out Trump’s metaphor is, in one sense, objectively true—just not exactly how he would have voters believe.
An American browsing the aisles of a Selecto supermarket such as this one just outside Mexico City would find much that is familiar. Mexicans at this upscale grocery in Naucalpan are scooping Cap’n Crunch cereal for breakfast, eating U.S. beef for lunch, and snacking on Oreo cookies after dinner, all brought across Mexico’s northern border.