Website review: Asia Times Online :: Asian news and...
laodan discovered this in Asia
•1 reviews since Apr 25, 2006
asia
•atimes.com/atimes/Global_Economy/HD26Dj01.htm...
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laodan discovered 27 months ago
Globalization's new underclass So many things have been written and said about how globalization would be a step forward in the economic well-being of the people on this earth. In reality what happens is largely different. While it is true that big capital finds a huge increase in profitable markets, the majority of people who are given jobs by the representatives of that same big capital are suffering income reductions and job losses... For the majority of the people in Western countries well-being has been driven down. It should thus not come as a surprise that representing the majority they'll vote ever more for protectionist politicians... The outcome of such policies could sooner than later spell trouble for the whole world in the form of conflicts between nations. Does this not bring you very uggly memories? in AsiaTimes by Stephen Roach (chief economist at Morgan Stanley.) """ Billed as a great equalizer between rich and poor, globalization has in fact increased the level of inequality in many countries, as shown by indices in China and the US. Though the two powers arrived at their inequality by drastically different routes, the political pressures thus created are causing problems for both. """ URL: Globalization's new underclass
