Once the ultimate globalization success story, the island of Saipan now faces one of the fastest economic collapses in history. After suffering a harsh history of military struggles, as well as a temporary economic boom after becoming a U.S. commonwealth, the island now stands devastated.
Saipan's economy exploded as U.S. garment manufacturers such as the Gap, Wal-Mart, Calvin Klein and Ralph Lauren took advantage of cheap labor and absence of shipping quotas. In 2005, the World Trade Organization lifted these international...
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