WaPo: Populism could undo Globalism

by Right Wing Fighter

There is an article in the Washington Post talking about how populist movements in the U.K., continental Europe, and the US could undermine globalism. Here are a few quotes:

At a minimum, disentangling long-standing economic relationships is almost certain to be messy: Ending Britain’s 43-year membership in the EU would trigger renegotiation of trade, financial and social welfare agreements with the rest of Europe. The mere prospect of Brexit sent the pound plunging to lowest levels in seven years. Recent polls show residents roughly split over the decision, with a sizeable faction still undecided.

And so what if the disentanglement is messy? Nations go through messy negotiations all the time. Part of the reason that we have governments in the first place is to perform those kinds of negotiations for the people. If it requires some bureaucrats to lose sleep fiddling with the minutia of trade deals, so what? That’s what they’re paid for. And besides, it wont be severely messy anyhow, since messy economic conditions make for bad business, and most of the governments have their ears tuned to what makes for good business.

The British should do what is best for them, and that is leaving the EU. It was a mistake for them to join it in the first place. A nation shouldn’t hand away a portion of its sovereignty to a transnational body. Such bodies are indifferent to national needs.

Economists have long argued that the benefits of globalization far outweigh the costs to workers who might be displaced by those half a world away. The IMF, along with the World Bank, are products of the post-war consensus that deeper economic integration can not only help end political strife, but also lead to mutual growth.

And exactly what have those benefits been to the average blue-collar? What about the millions of manufacturing workers that have been fired because of globalism? Has the benefit of cheaper computers and Japanese auto imports been worth it? Has losing solid, dependable, family supporting jobs been worth cheaper iPhones? And what about our international independence? When we did most of our own manufacturing, we weren’t dependent on foreign countries for our manufactured goods. This gave us an enormous stick to wield in foreign policy. Our manufacturing might was the wonder of the world for the first half of the 20th century, and the threat of getting on the wrong side of it was a great bargaining chip in any negotiation with a belligerent power. Consider that by the end of WW2, the US was supplying Britain, Russia, the free French, China, and also fielding an enormous army, air force, and a navy larger than all the navies of the world combined. Now what could we do? Borrow money from China and give it to our allies?

Globalism has hollowed out the US economy. We now have an economy that is bottom and top heavy. At the bottom, there are millions of low paying service jobs, like McDonald’s and countless other customer support positions. At the top end, there are typically high tech jobs, such as those at silicon valley. What is missing now is the great mass of manual labor based jobs that used to be the foundation of America’s economy. To recover our economic strength, and to give jobs to the millions of people that work with their hands, we must carry out nationalistic economic policies.

Advertisements