Comments on: Rise of the rest Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: MHB Mon, 04 Oct 2010 21:22:56 +0000 Chrystia,
“Globalization” is completely overblown.I took a look at the figures and was surprised to find how really small a part trade plays in the U.S. economy as opposed to say Germany.
Furthermore it is still the case that most developed countries invest in and trade with other developed countries.
Friedman’s book was poorly written, poorly argued , hype.

By: saucymugwump Fri, 01 Oct 2010 16:11:03 +0000 Chrystia Freeland demonstrated that she really understands our brave new world by writing “the new motto of the moneymen . . . is “Mumbai, Dubai, Shanghai or goodbye.”

Reuters’ video article of today, “Stock futures rise as Chinese manufacturing grows,” goes hand-in-hand with her article. In the past, when a recession ended, factories would hire American workers and that would start another round of prosperity. From now on, the end of recessions will signal foreign factories to start hiring workers outside of the USA.

Freeland then reverently whispered the FlatEarth philosophy of Tom Friedman, a member of the the NYT Magi of Davos, probably after crossing herself three times. The only thing flat about Friedman are his brain waves. His zealous support of outsourcing, along with his pal, Bill Gates, is a sign that he spends all of his time cavorting with the CEOs of multinational corporations. The rest of us live in a very different world.

Freeland wrote: “We are accustomed to thinking of our economic relationship with the countries Fareed Zakaria describes as ‘the rest’ as a two-way exchange between west and east or north and south: western companies setting up call centers in India or manufacturing their goods in China.”

This is not a two-way exchange, but a one-way street with American jobs, money, and prosperity going to China, India, and other third-world countries. In return we get customer service people who cannot understand English, dangerous drywall, toxic pet food, poisonous milk (melamine is a freebie), and other delicacies.

Freeland then pathetically attempted to scare us by writing that “[protectionism] . . . may not only be self-destructive. Even worse, it could be futile.”

To paraphrase Bill Clinton, that all depends on your definition of futile. According to the BLS, the underemployment rate is 26.2%. What happens when it reaches 30% . . . 40% . . . 50%? Wait, I know this one: the government will once again redefine unemployment.

The next charismatic leader will not be like Christine O’Donnell riding in on her broomstick to save the day. He might be a firebrand with words unemployed Americans can relate to: the Turner Diaries meets Red Dawn meets The Carpetbaggers.

By: Jamal345 Fri, 01 Oct 2010 13:59:38 +0000 The United States cannot survive nor embrace globalization. How can we compete with countries that dont have strict labor laws, human rights, corruption, higher education standards, cheaper labor, etc. The US worked very well post-globalization. We are doomed. I’m not. The average American doesnt even speak any foreign languages, and all they want to do is to continue building cars here. They ignore the fact that other countries offer cheaper labor, and those people dont require such a high standard of living. I hate to say this, but I feel like the only way to succeed in globalization is to start playing by the same rules as everyone else. Turn a blind eye to corruption, forget about human rights and equality, settle for a lower standard of living for the average American and lastly force our kids to stay in school and to study something valuable. Something like Engineering or becoming a doctor, certainly not Liberal Arts.

By: kedem Fri, 01 Oct 2010 11:55:19 +0000 Chrystia Freeland great to read your article. When I tell people I know in Netherlands about how Ghana is developing the reaction is like I am crazy. Most in the West are only inward looking and also still believe that the West is on top as usual. I believe that in a few year most Western professional will make a better chance finding Job in developing countries.

By: hariknaidu Fri, 01 Oct 2010 10:33:54 +0000 US Congress just yesterday passed a resolution demanding mainland China to stop manipulating Yuan – its national currency.

US/Fed is reportedly on verge of quantitaive easing; ie.
further devaluation of US dollar. Idea is to jump start US exports to emerging markets.

FT is reporting Repsol & Sinopec are investing in Petrobas new oil ventures issues in Brazil.

BRICs will inevitably go their own way if US/EU protectionism constraints their global tarde and development.

I’ve argued, beggers can’t be choosers!

By: tmc Fri, 01 Oct 2010 10:30:01 +0000 Our politicians are quite controlled by those same global businesses. They will not be blind sided unless it’s politically pertinent to appear so.
Protectionist? I thought the governments main job was to protect the American people. It really bothers me that global industry has twisted the word and the deed as a bad thing. I think globalization in the biggest of pictures is a good thing. Just read Greg Easterbrook’s book Sonic Boom. But I’m also tired of hearing this trip of protectionism. We need a bit more of it. For the last decade big business, as they off-shored our jobs, has promised that things will get better, not worse. They lied. Just like their politician flunkies. In the last decade the American rich are far richer, and the poor are poorer. The gap is wider than it’s ever been and still growing. When was the last time we had a jobs report with growth of over 200,000? There is NOTHING that indicates that we will see this level of job growth ever again. We probably will, but it may be a generation or two. Again for all you extreme right/left/liberal/conservative labels, Globalization is good, just don’t let it destroy your neighbor. We didn’t elect people to help China, India and the third world countries prosper. We elected them to ensure we continue to. Obviously without some level of protectionism, the average American we will continue to decline. For Pete’s sake we’ve heard this crap for ten years.

By: Fri, 01 Oct 2010 10:21:30 +0000 Indeed, the world is becoming a smaller place. You can tell it by a simple fact that most of our friends and colleagues are spread all over the world. And it would not be a surprise to meet someone you know from Houston in Schiphol while you are on the business trip.
This trend, of course, forces the human capital to flow from one edge of the globe to the other – most likely the direction is from West to East. Which naturally leads to emerging of the “rest”. I can tell it from the perspective of a Kazakhstan resident.