Monday, September 15, 2008

As G-8 meets, free trade under fire

Recent economic woes are raising new doubts about the benefits of globalization.

By Mark Trumbull | Staff writer of The Christian Science Monitor

The long trend toward open trade and global markets is under new stress as problems from food shortages to climate change test its staying power.

The march toward economic globalization is not shifting into reverse gear, but it shows signs of deceleration as leaders of the developed world meet in Japan this week for their annual summit.

They'll be focusing on issues of immediate concern – from how to tame the alarming inflation levels to non economic concerns such as delicate nuclear diplomacy with North Korea. But their agenda also includes a more general problem: how to maintain expansion of global commerce, which has helped many countries reach new levels of prosperity but has costs as well as benefits for workers.

This problem isn't new, but it has greater urgency this year because of a slowing economy that has dampened consumer confidence worldwide. The rising clout of emerging economies adds another challenge – balancing the interests of rich countries against those of developing nations.

Finding the right path forward is tricky.

"There's real risk here, and the stakes are pretty high" says Michael Spence, an economist who recently chaired a commission on global development. "The main thing that's enabled the high growth where it's occurred ... is really access to the global economy."

The trials of 2008 – soaring food and energy prices and a downturn in the vital US economy – are just the sort of environment in which doubts about free trade often increase. But this environment may also represent an opportunity, a nudge for world leaders to make sure that the benefits of economic policies are shared as widely as possible.

"Part of the problem here is that we've had too little attention ... to the distributional issues," says Mr. Spence, a senior fellow at the Hoover Institution in Stanford, Calif.

That concern came through loudly in an international poll released early this year.

The majority of the public in 27 out of 34 countries surveyed said the benefits and burdens of economic change are not being shared fairly.

Still, most people around the world don't wish to backtrack entirely on globalization. It's more that they want to see the process better managed, according to the BBC poll, which was conducted by Globescan and the University of Maryland's Program on International Policy Attitudes. Half of those surveyed said trade and global investment are growing too quickly, while 35 percent said "too slowly."

[read more]

4 Comments:

Blogger 林磊 said...

2015-10-28leilei
nike air max 90
Canada Goose Outlet,Canada Goose Outlet Online,Canada Goose Clearance
michael kors bags
michael kors outlet
Air Jordan 8
Louis Vuitton Handbags Official Site
coach outlet online
coach outlet
abercrombie store
tory burch sale
michael kors outlet
Christian Louboutin Sale For Men And Women
Michael Kors Handbags Outlet
authentic louis vuitton handbags
coach outlet
Michael Kors Outlet Sale Online
fitflops sale clearance
michael kors outlet
true religion jeans
north face outlet
Michael Kors Outlet
Michael Kors Handbags Outlet Online
michael kors uk
Canada Goose Jackets/Coats And Parka Online
michale kors outlet online
coach factory outlet
Louis Vuitton Handbags On Sale
ugg boots wholesale
Louis Vuitton Outlet Online Shop
nike shorts,nike hoodies,nike town,new nike shoes,nike tennis shoes,air max 97,nike shop,nike basketball
Official Coach Factory Outlet Online
montblanc pen
ugg boots on sale
Mont Blanc Pens
Canada Gooses Sale,Canada Gooses Jackets,Canada Gooses Coats,Canada Gooses Parka

10:53 AM  
Blogger chenlina said...

chenlina20160613
louis vuitton purses
coach outlet
ray bans
coach factory outlet
coach outlet
supra shoes
fitflops shoes
louis vuitton outlet stores
air jordans
oakley vault
beats by dr dre
louis vuitton handbags
hollister clothing
michael kors outlet
true religion
michael kors outlet
louboutin shoes
christian louboutin outlet
christian louboutin shoes
cheap jerseys
toms shoes
abercrombie and fitch new york
coach outlet store online
jeremy scott shoes
asics shoes
true religion outlet
coach outlet store online
marc jacobs handbags
kate spade
polo outlet
coach outlet
kate spade handbags
true religion outlet
kobe 9
burberry bags
coach outlet
ray ban sunglasses
coach outlet
coach outlet online
michael kors outlet
as

11:37 AM  
Blogger Unknown said...

jianbin0317
jordan shoes
cheap oakley sunglasses
adidas wings
nike roshe
beats headphones
coach outlet store online
louis vuitton outlet stores
louis vuitton outlet online
christian louboutin sale
pandora outlet

6:58 PM  
Blogger Unknown said...

jianbin0317
jordan shoes
cheap oakley sunglasses
adidas wings
nike roshe
beats headphones
coach outlet store online
louis vuitton outlet stores
louis vuitton outlet online
christian louboutin sale
pandora outlet

7:04 PM  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home