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Globalization’s Wrong Turn And How It Hurt America…FA

Globalization’s Wrong Turn And How It Hurt America

By Dani Rodrik July/August 2019

Foreign Affairs

Globalization is in trouble. A populist backlash, personified by U.S. President Donald Trump, is in full swing. A simmering trade war between China and the United States could easily boil over. Countries across Europe are shutting their borders to immigrants. Even globalization’s biggest boosters now concede that it has produced lopsided benefits and that something will have to change.
Today’s woes have their roots in the 1990s, when policymakers set the world on its current, hyperglobalist path, requiring domestic economies to be put in the service of the world economy instead of the other way around. In trade, the transformation was signaled by the creation of the World Trade Organization, in 1995. The WTO not only made it harder for countries to shield themselves from international competition but also reached into policy areas that international trade rules had not previously touched: agriculture, services, intellectual property, industrial policy, and health and sanitary regulations. Even more ambitious regional trade deals, such as the North American Free Trade Agreement, took off around the same time.
In finance, the change was marked by a fundamental shift in governments’ attitudes away from managing capital flows and toward liberalization. Pushed by the United States and global organizations such as the International Monetary Fund and the Organization for Economic Cooperation and Development, countries freed up vast quantities of short-term finance to slosh across borders in search of higher returns.
At the time, these changes seemed to be based on sound economics. Openness to trade would lead economies to allocate their resources to where they would be the most productive. Capital would flow from the countries where it was plentiful to the countries where it was needed. More trade and freer finance would unleash private investment and fuel global economic growth. But these new arrangements came with risks that the hyperglobalists did not foresee, although economic theory could have predicted the downside to globalization just as well as it did the upside

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https://www.foreignaffairs.com/articles/united-states/2019-06-11/globalizations-wrong-turn

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عن admin

مركز صقر للدراسات والبحوث الاستراتيجية تأسس في اذار 2004 في العراق في بغداد حاليا يعمل وفق للسياق الالكتروني الذكي المركز مؤسّسة بحثية مستقلة ، يُعنى بتداول ونشر الدراسات والبحوث والعلوم الاستراتيجية ، ويعمل على قياس تأثيراتها وفق مؤشرات الكم والنوع والاثر على كافة المستويات الدولية والمؤسساتية ، وباستخدام المخرجات الاكاديمية والحرفية البحثية المنتهجة في البحث العلمي لتقديم الرؤى وطرح البدائل والخيارات في جانب الاستشارات ورسم السياسات ، بما يدعم عمليات صنع القرارات ، ويقوم الباحثون في المركز بإجراء سلسله من الأبحاث والدراسات الاستراتيجية بما يتعلق بالتفكير والتحليل والتخطيط والاستنتاج والادارة الاستراتيجية وينفرد المركز بكون رئيسه المنظر الاول عالميا في مجال حوكمة مؤسسة الدولة والتي تختلف عن حوكمة الشركات المشاعة , ويقدم المركز خبراته وقدراته للمعنيين وذوي الرغبة في التعاقد والاستشارات وكذلك طلبة الدراسات بكافة تخصصاتها

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