Yes, globalization has many  benefits and supports the high standard of living in the US.   What Samuelson fails to mention is that loss of manufacturing leads to the decline in US expertise and ability to produce.  We have paid for the cheap goods from Asia with our expertise.  We have given them the knowledge needed to   manufacture and they have given us cheap goods.  Unfortunately, the next step absent domestic need to maintain manufacturing expertise, is the loss of our very ability to produce.  We look to a future where the US lacks the expertise to manufacture and is thus at the mercy of our foreign suppliers.