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We're not going to have a jobless recovery. We're going to have a jobless future.

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For advanced economies, such imbalances would likely lead to more long- term and permanent joblessness. More young people without post-secondary training would fail to get a start in the job market and older workers would drop out because they don't qualify for jobs that are being created. The polarization of incomes between high- and low-skill workers could become even more pronounced, slowing the advance in national living standards, and increasing public-sector burdens and social tensions. In some advanced economies, less-skilled workers could very well grow up poorer than their parents, in real terms.

L et's first take a step back and see where these new American exports will be coming from. At least three forces are likely to combine to make the United States an export powerhouse.