The gist of the times [updated]
Tuesday, January 16, 2007 at 3:06AM ARTICLE: "Enthusiasm for globalization ebbs: Economic conditions good, but gripes flow," by David J. Lynch, USA Today, 16 January 2006, p.1B.
Good summary piece that explores the strange mix of success and fear right now on globalization.
On the success side is the simple fact that the global economy is bigger and better and growing worldwide at a great clip (about 2-3 percent OECD, about 7-8 emerging markets, so a worldwide average of around 5 percent--which is phenomenally good in historical terms--as in, we've never had it so good and the future looks even better in terms of consumer demand, resource demand, infrastructural development and technological advances in numerous fields).
On the fear side is Chavezism, Putinism, resource re-nationalism in general, Doha taking too long as a WTO round (not exactly a new problem), and rising fear in America about job security among white collar workers. Add in the Dems increasingly hostile to free trade and a rising right-wing assault on immigration, and things seem highly charged.
The basic dynamic I fear: we pull back, China doesn't, and therefore China "must" be viewed as "expansionistic" and "hostile."
We are heading into a period of small minds and small visions, with fear mongering at a premium.
But I don't worry all that much because we regularly indulge that "little mind killer.'
Update: Steve posts on this today in Globalization's Ebb and Flow.
Reader Comments