True Globalization

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Besides, it is consistent with the protectionist policies announced by US President Donald Trump even before his election. News reports said the Mexican government was seeking to expand its trade and investment relations with China, and other countries in South America and the European Union. Thus, Mexico is starting to do now what President Duterte has been doing right after his election last year, when he declared an independent foreign policy for the Philippines.

The President instructed Foreign Affairs Secretary Alan Peter Cayetano and other officials to continue the scheduled meetings with Russian government officials and the meetings between business groups from the two countries.

Vietnam is the most globalized populous country in modern history

About Filipino businessmen accompanied President Duterte to Russia. Imports from Russia were mainly crude oil products. So far, Russia has been a small market for the tourism industry, with only 28, tourists coming to the Philippines in His trip to Russia opens up huge opportunities for Philippine industries, including export-oriented manufacturing and agriculture, and investments. After all, the US and other western countries also do business with Russia and China.

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Yet, globalization is only one factor in this unequal distribution. Other factors like new technology, unequal education, deregulation, and differing social welfare policies help to explain these trends as well. This is the point of a review essay in the June issue of the Journal of Economic Literature : globalization is one factor, but it is not the sole force behind recent patterns of inequality.

People must understand the more nuanced — but also more complete — reasons behind inequality in order to tackle its consequences.

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Economists and policymakers tend to see globalization differently. To have a more productive dialogue, everyone must recognize that the most popular narrative is not the most complete one. Trade can induce the adoption of new technology, and political factors can cause countries to embrace globalization while lowering their social safety nets. Still, Ravallion says that most people are overestimating the significance of globalization as a driver of global income inequality — particularly the rising within-country kind.

Although within-country inequality is increasing on average, its exceptions are almost the rule: France has not experienced an upward trend in inequality; inequality is falling in several countries; and, many developing countries have experienced both rising and falling inequality over the past few decades. This diversity of outcomes suggests that policymakers should not use globalization alone as a scapegoat for inequality.

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The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods.

The deceptive promise of free trade - DW Documentary

There is also an increase in human trafficking. Globalization is an economic tsunami that is sweeping the planet. Leadership — We need politicians who are willing to confront the cheaters. One of our biggest problems is that 7 of our trading partners manipulate their currencies to gain unfair price advantage which increases their exports and decreases their imports.

This is illegal under WTO rules so there is a sound legal basis to put some kind of tax on their exports until they quit cheating. Balanced Trade — Most of our trading partners can balance their trade budgets and even run a surplus.

A brief history of globalization | World Economic Forum

The trade deficit is the single biggest job killer in our economy, particularly manufacturing jobs. We need the government to develop a plan to begin to balance our trade deficit even though this is not a political priority in either party. The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons.

Enforcing the rules — China ignores trade rules and WTO laws with reckless abandon.

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Besides currency manipulation they subsidize their state owned companies to target our markets, and provide funding to their state owned companies that dump their products in America. They also steal our technologies, sell counterfeit versions of our products, and impose tariffs and other barriers anytime they want - as we do nothing to stop them. China does not deserve to be on our most favored nation list and we need to tax their exports to us until they stop these illegal activities. What is good for third world countries, like Kenya, or countries with tremendous growth, like China, has not been good for American workers. Globalization is deindustrializing America as we continue to outsource both manufacturing blue collar and white collar jobs. Supporters of globalization have made the case that it is good because it has brought low priced imported goods, but they have not matched the decline of wages in the middle class and will not offset the loss of many family wage jobs.

Globalization is like being overwhelmed by a snow avalanche.