Tuesday , June 25 2019
Home / Project Syndicate / Globalization RIP?

Globalization RIP?

Summary:
Beyond the rancor and taunts heard at last month’s Republican National Convention, something even more ominous could be heard: the last rites for globalization. To adoring hoots, Donald Trump, the party’s presidential nominee, denounced US participation in international trade deals, and the foreign policy he sketched would pull the plug on the entire US-led liberal international order within which globalization has flourished. Should Trump enter the White House, globalization would not undergo a retreat; it would suffer a rout. Half a world away, G20 finance ministers met almost simultaneously in Chengdu, China, where they made revitalizing globalization a priority for 2016/2017. The fact that all of the major advanced and emerging economies fear for the future of global openness suggests the degree to which surging support for populist challengers has imperiled existing rules and structures. For many Project Syndicate commentators, globalization seems trapped in a pincer movement: assailed from one direction by those who claim that it has created a reserve army of economic losers lorded over by a small cadre of winners, the infamous 1%; and besieged from the opposite direction by unscrupulous politicians who, feeding on economic resentment, attack it in the once discredited language of nationalism, of blood and soil, of herrenvolk.

Topics:
Project Syndicate considers the following as important:

This could be interesting, too:

Miles Kimball writes Data on Asian Genes that Discourage Alcohol Consumption Explode the Myth that a Little Alcohol is Good for your Health

Bradford DeLong writes Weekend Reading: John Maynard Keynes (1937): How to Avoid a Slump

Paul Krugman writes Self-Inflicted Medical Misery

Bradford DeLong writes Brad DeLong's Grasping Reality 2019-06-24 20:12:05

Beyond the rancor and taunts heard at last month’s Republican National Convention, something even more ominous could be heard: the last rites for globalization. To adoring hoots, Donald Trump, the party’s presidential nominee, denounced US participation in international trade deals, and the foreign policy he sketched would pull the plug on the entire US-led liberal international order within which globalization has flourished. Should Trump enter the White House, globalization would not undergo a retreat; it would suffer a rout.

Half a world away, G20 finance ministers met almost simultaneously in Chengdu, China, where they made revitalizing globalization a priority for 2016/2017. The fact that all of the major advanced and emerging economies fear for the future of global openness suggests the degree to which surging support for populist challengers has imperiled existing rules and structures.

Project Syndicate
Project Syndicate produces and delivers original, high-quality commentaries to a global audience. Featuring exclusive contributions by prominent political leaders, policymakers, scholars, business leaders, and civic activists from around the world, we provide news media and their readers cutting-edge analysis and insight.

Leave a Reply

Your email address will not be published. Required fields are marked *