That was because companies started outsourcing businesses because it was cheaper to have a factory in Asia or South America, and just produce there and bring the goods back home than to pay US workers. The people affected were people who worked in the business as manufacturers and physical laborers. The economy shifted to services like tourism or telecommunication services. The benefits were that a new workforce was created and that people started developing the society more. A bad thing is that a lot of people lost their jobs and weren't trained to become a part of this new workforce.
