November 14, 2021
Markets

How to Fix Globalization – The Atlantic

Few ideas today are more unfashionable than globalization. Across the ideological spectrum, a once-robust consensus about the liberating power of free trade and financial markets has transformed into the conviction that the world has spun out of control. Economic inequality is rising in developing and developed countries alike. Hopes for a global human-rights awakening have given way to frank assessments of the persistence of slave labor and extreme poverty. Climate change is accelerating, diplomatic relations between the United States and China have reached a new nadir, and the European Union has devolved into a forum for resentment. A project forged to spread democracy has brewed a new authoritarian politics on multiple continents.

These horrors were evident before the outbreak of COVID-19; the pandemic has escalated them all. But this is not the first time globalization has run…

Read full article here: www.theatlantic.com