Bigthink - Idea Comments Feed

Comment on: Re: What are the challenges of globalization?

Bigthink — Mon, 21 Apr 2008 07:54:05 +0100

I agree that we need to talk about the positives of globalization as we continue to talk about the costs, particularly the personal pain. Mr. Stewart's point about transitions is the most important. We must provide realistic transitions for workers if we are going to remove their jobs! I remember Robert Rubin talking about the transition period of retraining etc that he considered important for the successful implementation of NAFTA. But that part of the NAFTA paln didn't survive Congress, and at a terrible cost.
Europeans and Africans I've talked to about globalization are OK with the positives from globalization but regret the loss of their own style of dress, food, etc. that gets pushed out. We need to respect cultures in other countries even as we share financial markets with them. Everyone in the world dressed in sports clothes made in China . . . it's boring, but that's the least of the problem.

Comment on: Re: What are the challenges of globalization?

Bigthink — Mon, 24 Mar 2008 06:07:04 +0100

Stewart is absolutely correct when he says that "There's no question that globalization is good for the world". It's quite ironic, isn't it, that the most ardent capitalists are advocating policies that are the most beneficent for mankind. But that was Smith's point, Jacoline....it's not a zero-sum game.

Comment on: Re: What are the challenges of globalization?

Bigthink — Wed, 12 Mar 2008 20:09:02 +0100

as Italian, I can say that in my country we are facing the same problems, and many among us believe that the solutions, for developed countries, are creativity and sustainability, in order to represent a right guide for the growing ones(China and India above all).

Comment on: Re: What are the challenges of globalization?

Bigthink — Sat, 01 Mar 2008 00:36:17 +0100

Mr Stewart, I am usually a great fan of Adam Smith and the zero sum game principle that when people do well, this is not at a cost to other people's wealth. So when someone gets pie it does not mean that you will get less pie or if China grows in wealth, this means less for North America.
For the first time, I am not so sure... particularly as you mention Africa and the amount of resource contracts that have been signed in the last decade by the ravenous Asian dragons. With oil, we are also seeing that perhaps there is a bottom to the pie dish. Not sure?
I am glad you mentioned the Michigan worker laid off due to the fact his job is being done in China. In my work, over the last year I have seen factories (parts and all) dismantled and sent out of country.
Today, I was with a CEO of a freight company who described his shock at seeing Detroit recently with its boarded up windows and sad property market. This CEO talked about the USA's drop in activity as he has contracts like cement shipping, etc, declining in his business.
I agree that this is the cost of going global and share your worry about those Michigan workers - how will this look thirty years from now?

Comment on: Re: What are the challenges of globalization?

Bigthink — Fri, 15 Feb 2008 00:14:01 +0100

The implication is that economic expansion creates opportunities for greater morality.

If this fantasy is to come true, then ethical corporate strategies must operate within an economic framework that also is driving towards ethical ends.

Our archaic and profit-driven economy, from an age of industrialization, is counter-intuitive to the economy of globalization, which promotes an ethical production of goods. What is the use of creating global standards if companies won't take the opportunity because of directives to seek profits above all else?