Posted on 05/04/2020 4:10:19 AM PDT by blam
One of the more worrying consequences of the coronavirus is that it looks likely to become a catalyst for deglobalisation.
At the centre of this will be the decoupling of the Chinese economy with developed economies and the US in particular. The world’s three largest free economies – the European Union, the United States and Japan – are all drawing up separate plans to lure their companies out of China.
European Union trade commissioner Phil Hogan has called on companies to consider moving away from China; US President Donald Trump’s top economic adviser Larry Kudlow has said the government should pay the costs of American firms moving manufacturing back from China onto US soil; and Tokyo has unveiled a US$2.2 billion fund to tempt Japanese manufacturers back to Japan or even to Southeast Asia.
Coronavirus: Can China overcome global mistrust to lead the fight against Covid-19
Meanwhile, bills are piling up in the US Congress aimed at reducing America’s reliance on Chinese supply chains and pushing for a decoupling of the world’s two largest economies.
While these are recent moves, the truth is the debate on globalisation – and deglobalisation – began more than a decade ago in the wake of the global financial crisis of 2008.
After decades of globalisation in trade, capital flows and even people-to-people exchanges, the trend has reversed over the past decade as trade and financial integration stalled.
Protectionist tendencies are on the rise. Since 2008, G20 countries have added more than 1,200 restrictions on exports and imports. Britain’s decision to leave the EU, the election of Trump on a protectionist agenda, and the rising popularity of right-wing political parties in France, Italy and elsewhere are all examples of rising public discontent with the status quo.
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(Excerpt) Read more at scmp.com ...
Boy, does this identify the author’s position! I personally don’t see a problem with “degobalization”. America first!
No it wont. China will buy as many politicians and news and web services to prevent anything but token concessions from happening.
I thought Trump was the cause of distrust aimed at globalization? Now a little virus?
Can the Khmer Rouge overcome global mistrust to lead the fight against fratricide?
Screw China. Most despised nation status.
Nope nope nope...GE just sold it’s appliance biz to China. Starbucks just announced a large processing plant in China....the big Co.s are doing biz as usual until the Feds step in...
Look for PDJT and company to step in.
Tariffs, yes indeed.
I have started looking for products manufactured here in the US. I am specifically looking for art supplies (acrylic paints). Seems no one wants to tell me where their products are manufactured. Does anyone know where I can find a list of manufacturers here in the US? I have done several online searches but can’t find what I’m looking for.
I do not believe the world has turned against globalism. Just China. These companies will move to India or some other low cost nation. Unless they are forced to move back tot he US, they will continue to keep manufacturing off-shore.
The communist are incapable of making a quality product. There may be some exceptions, but in general that’s the deal. And it’s even more sinister than that, why make a quality product? Make something crappy so they have to buy it from us again. And, especially vitamins, drugs and food. The minimum of standards, and below standards too if they can get away with it.
I also am trying not to buy Made in China items. I do not care where else they are made as long as it is not communist China. However, it is really tough to do.
Saturday, I was out doing some errands. I went into a independently owned hardware store. I know the owner. I have been shopping there for 35 years. I needed a new grill brush. They had about ten different ones to choose from. Almost all with the Weber grill name on them. I asked the clerk if any of them were not made in China. She stated NO. They all were. So, I bought one anyway, but told the owner that he needs to carry products not made there, because I almost went somewhere else but was short on time.
No, Covid 19 turned us against China!
People talk. Politicians talk. Do they do anything but talk?
China just proved why world globalization won’t work it’s only dangerous.
The rest of the world should consciously NOT purchase and damned thing made if China if at all possible.
If it says Made in China, just say NO.
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