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OECD sees growth flounder as globalization stalls

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Of course they will blame globalization, as if global trade is a recent thing, and has not been going on for more than a thousand years. They will overlook that globalization has lifted billions out of poverty over the past decade in a half, and reduced by half the numbers of people around the world who live on one dollar or less per day.

What they won't blame are their own free-spending policies, which consume ever greater amounts of their GDP, leaving less for the private sector to use for starting businesses, paying salaries, and creating economic growth. Nor will they blame their crushing government debts, which are the main reasons they have embarked on endless bouts of QE, stimulus spending, and zero or negative rates.

But by blaming globalization, they can bind up more of their economies in red tape, giving them more power to coerce favors, campaign contributions, and to give them the authority to spend even more of our money.

3 ( +4 / -1 )

Yes, I agree! The thing is that people are tired of buying more and more on a planet that has limited resources. And most of us never see the benefits of globalisation;whatever that really is I'm all for less growth if I can breathe clean air and not consume micro particles of plastic in my food!

2 ( +3 / -1 )

Growth is stalling precisely because of globalization and the adoption of neo-liberal dogma.

-3 ( +0 / -3 )

Globalization is a giant scam. Only a few benefit, namely about 1%. If sound familiar is because it is. The rest work for minimum wages, if are luck to find a job at all. This is not only said, this is what is happening right now.

0 ( +2 / -2 )

And most of us never see the benefits of globalisation;whatever that really is

Everything you own is a benefit of globalization. The computer or phone you wrote your post on was made with materials and technology that came from a long list of countries. If you live in Japan, the fact that you can eat a wide variety of fruits and vegetables any month of the year is a benefit of globalization. If you are using electricity for your lights and to charge your phone, that is also a benefit of globalization.

Every single one of us sees the benefits of globalization in everything we wear, eat, drive, ride, or read. But few of us stop to think about it.

1 ( +4 / -3 )

We had all that and more before the world's economy began to tank! No doubt all the unneeded detritus that China is producing is another benefit? Well, I don't need it nor do I not want companies exploiting workers in low cost countries making sneakers for cents on the dollar and then charging 100s of dollars for their brand name product!!! No thanks! Globalisation = Exploitation......

1 ( +2 / -1 )

as long as taxes are low the destabilizing effects of globalization will continue to cause people to suffer

0 ( +1 / -1 )

as long as taxes are low the destabilizing effects of globalization will continue to cause people to suffer

Were it not for globalization, where would Japan be now? Japan has no energy or materials resources, and limited agricultural resources. Were it not for globalization, the standard of living in Japan would be the same as in the Edo period, would it not?

And who exactly is suffering? As I mentioned, since globalization has expanded, fully one-fifth of the world's population has been pulled out of poverty, and the number of people living on a dollar or less per day has decreased from 40% of the world's population to only 14%. No government social program or wealth redistribution policy has done more to ease the suffering of the people, or reduce income inequality than globalization. And anyone who argues otherwise is either a politician pandering for votes, or a fool.

1 ( +1 / -0 )

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