LONDON — observed in a recent symposium in the financial times about the prospects of globalization in 2011, the columnist Gideon Rachman, "Barack Obama India recently visited the President his hosts warned, that has reopened the debate on globalization in the West" and that "A Backlash…is Forming…and grows economies expanded".
But Rachman's alarmism is misplaced. The fear of globalisation in the West is nothing new. Articulate, globalization fears and feelings for at least a quarter-century expressed intellectual and groups like trade unions and environmental organizations in the advanced economies.
The fear of globalisation, but historically began in the East to the West. After the second world war in the West obstacles to trade and investment and exchange controls and move currency convertibility worked. What the liberal international economic order sometimes called, was the order of the day, and it was by public opinion and hugs.
On the other hand the cautious view that, like the Chilean sociologist Oswaldo Sunkel put it, integration into the world economy would cause decay of the national economy embraced in the East in General. Many intellectual shared this dark globalization vision and the East were not far behind most decision makers.
In fact I accepted what in the West embracing view globalization (such as with trade) would lead to the mutual enrichment, 1997 called the notion of "benign neglect". In the foreign investment and aid flows to the West gone you as motivated by altruism, or "benign intention," view while in the East globalisation in a world of poor and Rich Nations considered as implying "disastrous effects." In some analyses "malicious intent" turned the baleful effects in a more sinister Foreign aid was considered to catch a piece of land to poor Nations in neo-colonial embrace.
What happened next was what I have called a "ironic reversal". To appreciate the benefits of globalization manifesto and the damage caused by autonomous policy also showed that decision-makers in the East began to know that your anti-globalization attitude was a mistake.
But fear of globalization then moved west. The East feared that it won from trade with the West, the excellent infrastructure and human capital had; Now, the West had come to fear that it would lose from trade with the East, which had abundant, cheap labour. The long-term stagnation in wages for unskilled workers was attributed to low-cost, labor-intensive imports, the corollary that the Western workers were labour-intensive Asian consumption to ignore the impact that real wages apply.
To take another example, one concern in the East "brain drain" from professionals in the West, where more seemed to be numerous opportunities. Today globalization opposition members of professional groups, witnesses, is in the West to fear losing their jobs to foreign counterparts.
Rudyard Kipling famous in "The Ballad of East and West" wrote: "Oh, East is East, and West is West and never the meets TWAIN." An ironic reversal of globalisation fears Kipling is still right: convergence has to escape East and West.
The current crisis create the debate on globalization, which now belongs to the West; He did it only slightly more salient. Yet the crisis flip Western policy outcomes in favor of globalization, be. On trade it successfully a remarkable commitment to efforts to avoid the significant backsliding to protectionism - mostly. The G-20 heads of State and Government also the need to express more complete the Doha round of multilateral liberalisation of trade negotiations.
There are also initiatives such as the appointment by the Governments of UK, Germany, Indonesia and a high-level expert trading group with Peter Sutherland, former Director-General of the GATT and the WTO, and me as Co-Presidents of Turkey. The four Governments reports at this year's World Economic Forum in Davos to the Doha this year to complete.
In other words, still wrongly shown Kipling. A turnaround in the West is possible, maybe even likely. So the current crisis may establish a pro globalization consensus so accidentally, extending East and West.
Jagdish Bhagwati, Professor of law and Economics at Columbia University and senior fellow in international economics at the Council on foreign relations, is the author of In defense of globalization Copyright: project syndicate, 2011.
www.Project Syndicate.org
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