Defending Globalization (but now with some reservations)

Fareed Zakaria has an article titled, “In defense of globalization,” which even with its stated aim is not the standard sort of endorsement of globalization to which we grew accustomed in the 1990s. Note the instances where he recognizes that at least some of the criticisms of globalization are valid, but others also miss the mark. Also note that in discussing wealth generated from the increase in global trade, he says “nations” when speaking of who benefits, not specific classes. Aside from that, what stands out in particular was this passage, containing the kind of message and details that have been generally suppressed by the mainstream US media over the past two decades:

“It took a Chinese billionaire to speak frankly on this topic. Jack Ma, the founder of the e-commerce giant Alibaba, estimated that over the last three decades the U.S. government spent $14.2 trillion fighting 13 wars. That money could easily have been invested in America, building infrastructure and creating jobs. ‘You’re supposed to spend money on your own people,’he said. ‘It’s not [that] the other countries steal jobs from you guys — it is your strategy.’He pointed out that globalization produced massive profits for the American economy but much of that money ended up on Wall Street. ‘And what happened? Year 2008. The financial crisis wiped out $19.2 trillion [in the] USA alone. … What if the money [was] spent on the Midwest of the United States developing the industry there?’ “

Continue reading here.

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About Maximilian C. Forte

I am a professor of anthropology at Concordia University in Montreal, Canada. My areas of research and teaching interest are centered in Political Anthropology, with a focus on imperialism, neoliberalism and globalization, nationalism, democracy, and the international political economy of knowledge production.
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