Of course there’s a globalisation backlash. It has failed billions of people
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Today, governments are less interested in breaking down barriers and more concerned about safeguarding jobs, preventing intellectual property theft and the risk of cybercrime. Companies are realising that lengthy global supply chains designed to take advantage of low wages in the developing world have costs as well as benefits. Coronavirus has brought that home with a vengeance, and is likely to further encourage the repatriation of production that was offshored in the 1990s and 2000s.
But the financial crisis exposed the weaknesses of a system that was able to operate globally without adequate controls and effective supervision. The resulting slump was deep and the recovery has been long, painful and incomplete. Inevitably, countries have become more cautious.
That trend has been amplified because globalisation’s fruits have been enjoyed primarily – though not exclusively – by owners of capital and the better off. Consumers have gained from lower prices, but inequality has risen in every part of the world. In democracies, there is a limit to how long people will put up with the rich getting richer while their living standards are stagnating or barely growing.
Global heating looks certain to add to the deglobalisation pressure. The existential threat posed by the climate emergency is forcing governments, businesses and consumers to ask some questions about the way the global economy works. Is it sensible to ship car parts backwards and forwards across national borders or invest in fossil fuel companies? Is it sustainable to fly in fruit and veg from the other side of the world rather than grow it locally? Most fundamentally of all, are there more important things than economic growth?
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction
February 14, 2020 at 11:38 AM #268777EnthusiastParticipant
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They said globalization is inevitable. The only inevitable part was how the Neoliberals betrayed the interests of workers all over the world. The worst of these was the Democratic Party elite like Barack Obama, Bill Clinton and their ilk.
I would like to remind you that U.S. health insurance companies do not contribute anything to health care. They are only a PARASITIC middle man receiving an undeserved cut of "FREE MONEY".
February 14, 2020 at 4:10 PM #268865D503Participant
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No one is safe-guarding jobs in this country…
"Violence is the last refuge of the incompetent." - Asimov; "If you push something hard enough, it will fall over." - Fud's First Law of Opposition
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