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Globalisation?

IAmNoOne
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2/12/2014 1:25:49 AM
Posted: 2 years ago
I'm working on an essay for class and I need opinions for if you think about globalisation. Try to stay on the topic of 'Should countries encourage globalisation?'. Thank you for replying.
progressivedem22
Posts: 1,304
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2/12/2014 9:07:56 AM
Posted: 2 years ago
It's a complex issue, and I think you would want more than just a few opinions, but here's my shot.

Obviously the argument against globalization--against NAFTA, the TPP, etc.--is that it pushes down wages, outsources jobs, ruins the environment, and tacitly endorses human rights violations--that is, if we're trading with, say, China (though the issues with China, a currency manipulator, are obviously a bit more complex). These are plausible indeed, but what even the most liberal economists will tell you is that, yes these are problems, but tariffs and barriers to trade aren't the solution, especially since a tariff is a de-facto regressive sales tax, which also places upward pressure on domestic prices. Not to mention that barriers to trade are especially harmful to developing countries and, if we're not careful, can lead to a trade war.

So I'll have to agree with Krugman on this one: globalization should be encouraged insofar as it doesn't spiral out of control. Of course, trade agreements would need to coexist with a strong safety net to offset wage reductions and outsourcing. So, trying to ram the TPP through Congress at a time when SNAP benefits have been cut and sequestration still, in part, exists, I think isn't the least bit well-timed.