Globalization's castaways haunt central bankers

Discussion in 'Politics' started by SuperCourse, Aug 24, 2017.

  1. SuperCourse

    SuperCourse Well-Known Member

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    But when they meet for the U.S. Federal Reserve's annual research conference in Jackson Hole, Wyoming, this week, it will be with the growing recognition that the world economic order they helped create could unravel unless the benefits of globalization can reach those left behind.

    When Donald Trump promised to revive "middle America" by rolling back decades of globalization, Paige decided to give him a chance. The otherwise dependable Democratic voter sat out the election, contributing to the county's swing from a 57-percent majority for Barack Obama in 2012 to a 51-percent vote for Trump's economic nationalism.

    "My grandkids need jobs," she said, counting out the ways her county has been abandoned over the last decade with the shuttering of a General Motors (GM.N) car factory, an aluminum plant, and the Sears (SHLD.O) department store where Paige once worked.
  2. 20_yrs_2_go

    20_yrs_2_go Well-Known Member

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    Parag Khanna, a Singapore-based author and proud globalist who gave a talk here on “liquid borders,” laughed at the idea that Trump can roll back globalization, as many here fear. Pointing to reams of statistics showing the explosion of new trade ties with little or no involvement from the United States, he told me that Trump would merely act as an “accelerant” of existing trends. As for the U.S., “America First” or no, “people will care a lot less about what we do,” he predicted.

    Sultan Ahmed bin Sulayem, the head of DP World, a UAE-based ports conglomerate that operates in 40 countries, also disputed the assumption that Trump threatens global trade, noting that some 75 percent of the world’s economic growth is in emerging markets. Sulayem has his business down to a science—he rattled off statistics, such as how 1 percent growth in a country means a 3 percent growth in shipping containers. His company is focused on cracking open markets in hard-to-reach places like the interior of Africa, and doesn’t much worry
    about what the United States is doing.

    As for Trump and his populist allies in Europe and around the world, “I think this is a phase,” he said. “This is something that will pass.”

    I guess that trip to Saudi Arabia didn't amount to no more then a photo-op for Trump and wife
  3. Driver71

    Driver71 AKA:DBLCLUTCH

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    IMO,Obama wanted to level the playing field, his plan was to tear us down, not lift up other's.
    Northern Flash likes this.
  4. slavenomore

    slavenomore US Gov Hears Foreign Corps More Than Nonunions

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    The game is as told or they make us the new Hitler.
    We need our own currency....and then they begin to make us the new Hitler.
    Give your wealth and your trades to the world...and LIKE IT.....and spend your tax monies on wars that benefit them....and LIKE THAT TOO.

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