Globalization fatigue
Great Washington Post story on the current mood of pro-globalization thinkers. The money grafs: Globalization’s staunch defenders point to evidence indicating that countries are well advised to open their markets. Studies by two World Bank researchers, David Dollar and Art Kraay, show that the developing world’s “globalizers” — defined as countries that have increased trade ...
Great Washington Post story on the current mood of pro-globalization thinkers. The money grafs:
Great Washington Post story on the current mood of pro-globalization thinkers. The money grafs:
Globalization’s staunch defenders point to evidence indicating that countries are well advised to open their markets. Studies by two World Bank researchers, David Dollar and Art Kraay, show that the developing world’s “globalizers” — defined as countries that have increased trade the most relative to their national income — have enjoyed much faster growth in recent years than non-globalizers. But many economists find this argument unpersuasive, because it relies on including two giant, fast-growing countries — China and India — in the ranks of the globalizers, even though both the Chinese and Indian governments keep their economies closed in many important respects, and India’s growth spurt began several years before it started opening up. “The irony is, China and India are hardly paradigmatic open-market economies,” said Nancy Birdsall, president of the Center for Global Development and a former official at the World Bank and the Inter-American Development Bank.
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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