Not really. He forgot offshoring of IT stuff and H1Bs, and the wholesale takeover of tech by India.
From the article:
Two, globalization enriched the cosmopolitan elites who found worldwide markets for their various services. New global markets and commerce meant Western nations outsourced, offshored and ignored their own industries and manufacturing (or anything dependent on muscular labor that could be replaced by cheaper workers abroad).
I'm not sure which is worse offshoring or H1-B's. Probably H1-B's. I asked a question a while ago: if one must import a new class which would you prefer: a huge parasitic lower class that can only do a bit of menial labor and requires a lot of welfare, a second middle class that depresses wages and keeps unemployment high, while competing for the scarce decent housing, college admissions and other tools by which the middle class raises their long term position, or, third choice: import a new ruling class who quickly take over the commanding heights of society - including elite institutions, running a lot of corporations, etc.
America is doing all three.