Globalisation. The hangover.

[swissie]

Remember the start of "Globalisation"? Worldwide price competition will benefit everyone. So the gospel. Ignoring the fact that "estabished economies" could never compete with southern "low cost" producers. With the result of job-losses north of the Equator with little gain for workers south of the Equator. Eventual gains found their way into the pockets of the 5% elite of those countries. A devastating example is Africa. Internationally operating large corporations as the sole "winners".

 

Result: Realising that many segments of the US/European economy can simply not compete with "low cost producers". The imposition of import Tariffs is nothing else than an effort to gradually reverse "globalisation". Europe to follow, for sure.

 

Globalisation was sold as "increased prosperity" for everyone. A party that would never end for everybody. North of the Equator the party has ended. North of the Equator, we are left with a post-globalised hangover. It will take more than 2 Alka-Seltzer tabletts to cure this sort of hangover.

 

[blaze master]

You can thank the boomers for this mess. 

 

Thanks mom.