Globalisation in crisis

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  • Globalisation in crisis
    • our current crisis
      • Discourse
        • Was a consensus that globalisation is unstoppable and is a good thing- lifts our standard of living
        • political leaders use it to pursue their political goals
      • Economic
        • wages have stagnated
        • under globalisation inequality has grown around the world
          • top1% 9.5x richer in 1979 top 1% 20.7x richer in 2007
        • Sparke 2013-global unemployment has increased by 200 million in 2012- despite globalisation talk about providing jobs
          • Managerial elites have increased transnational mobility- they have the biggest financial assets and access to information and ties with the gov. and other countries. often own foreign bank accounts, and offshore tax havens- class that has freed itself from many foreign costs of national attachment
            • they see the world as a flat playing field-makes a "borderless world" seem real to them- work together across borders, constantly looking to tear down trade barriers
      • political
        • rise in the far- right in Europe, collapse of centre left parties- centre right has been pushed further to the right to a accommodate for views
        • "a Farage in every country" the guardian
        • financial crisis lead to a rise in austerity, draw support from attacking globalisation
    • the collapse of globalisation
      • John Saul, 2005
        • heyday of globalisation was mid 1990s, tariffs had fallen, trade agreements, tax rates for wealthy had fallen
        • within a couple years- Financial crash in east Asia, Argentina
      • Dan Rodrik, 1997
        • globalisation exposes gap between those with education and mobility and those without
        • failing of globalisation are not just for poor but whole system
        • trilemma- cannot simultaneously pursue democratic politics, powerful nation states and economic globalisation
          • give markets too much freedom and you have an unstoppable world economy with little social and political support
      • Goodhart, 2018
        • greater economic integration has not benefited all citizens
        • within globalisation it has its own self destructive qualities
      • collapse of America
        • 6million jobs lost between 1999 and 2011, decline in US is mirrored by gains in China
        • outsourcing to other countries- loss of jobs in America, Donald Trump attacks global governance
        • Trump: withdraws from Paris agreement, UNESCO etc. rejects global governance, dismantling it
    • Globalisation by crisis
      • decades strong consensus that globalisation is positive for everyone, however now it is seen as a threat- what is globalisation has always been in crisis and this is strengthening
      • new era or strongman authoritarianism? not anti globalist but a world where American capital can and goods can flow freely, but human rights, migrants etc don't.
      • Shock doctrine: crises are used to push unpopular economic policies through e.g. cuts to social services.
        • Klein 2002: draws connections between shock therapy and economic policy, the crisis of globalisation is also the process of globalisation

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