OVER the last few years the benefits of globalisation, capitalism and free trade have been called into question and the inequalities they create have been highlighted. The Institute for Public Policy Research has recently published a report setting out the prospects for the future of globalisation, placing today's circumstances within an interesting historical context.
FORMER Cabinet Minister Lord Mandelson today called for reform of the rules governing globalisation to ensure that its benefits are more widely shared. He warned of public anger over the perception that the financial gains from the economic changes of the past two decades have gone to a "small elite", while middle-class and blue-collar incomes have stagnated.
AN award-winning documentary about the cost of globalisation is to be screened at Newcastle's Star and Shadow Cinema on July 4. The Economics of Happiness, released last year, describes a world moving in opposite directions. While governments and big business argue the benefits of globalisation, communities around the world are increasingly resisting its effects. The film features people from six continents arguing for a new economics of localisation whereby communities come together to rebuild on a more human scale.
I recently read of a groundswell in the USA bitterly opposing the sell-off of their large companies and corporations to foreign purchasers. It has lead to the unemployment of a massive proportion of the middle and working classes. A quoted instance is the purchase of nearly all the car component manufacturing businesses in Detroit which has been bought by Chinese companies. This is 'globalisation'. A worldwide phenomenon embraced, perhaps even started, but definitely encouraged, from the other side of the pond.
Idescribed in my blog some time ago that a new independent coffee shop had opened in my town literally next door to Starbucks and my question then was whether a sole trader taking on a global behemoth was brave or stupid? Nearly two years after opening, Angeli is still there which is already longer than the previous occupier of the site and a longer life span than the vast majority of start-ups. I doubt very much that there is panic going on in Starbucks HQ as a result but is there a trend? Conventional wisdom has it that a restaurant business is insanely difficult to get off the ground and that cafs are even more difficult to make profitable. In finance terms, the margins are great but with a low take per customer, high staffing and high rents, getting the numbers to add up is next to ...
HINDSIGHT is a wonderful thing. Even at the tender age of 19, however, something should have told me that evening in 1976 that there was an unwelcome wind of change in the air. I had ventured into Grafton Street with a group of college friends to taste my first Big Mac.
For years I have been writing letters to the press conveying my concerns about how the markets rule the roost and dictate what heads of government must do to maintain their economies. We are seeing this now as country after country is subjecting its populations to austerity measures which inevitably mean the loss of hundreds of thousands of the remaining jobs, and more and more poverty throughout the land caused by the markets upping the interest rates on monetary borrowing.
[broken bar] HAVE just finished an incredible journey. I am hardly a stranger to foreign travel after a lifelong career as a diplomat. But, in the past six months, I have been to places, and met people, as extraordinary as any I encountered in 40 years of diplomacy. I have been making a six-part documentary series for Sky Atlantic called Networks of Power. The aim was to go to six great cities of the world to try to find out what and who make them tick. As British ambassador to the US, my job had been to plug into the power lines that linked the movers and shakers of Washington DC. Now, the challenge was to uncover the networks of power in Mumbai, Rome, New York, Los Angeles, Moscow and, finally, London -- and to do so in a way that was visually striking.
he merger of two interna -tional law firms to create TTTone of the world's biggest was the result of the "un -stoppable force" of globalisation according to one of the men who brokered the deal. Hammonds managing partner Peter Crossley said the deal to join forces with Squire, Sanders & Dempsey LLP reflected the company's international aspirations and the increasingly competitive global market place in which it operates.
The Evening Post is right to link the sacking of 500 Tata Steel workers to globalisation, and yes, as the Evening Post (We Say, November 26) states, this has clearly created winners and losers. Globalisation is the intended consequence of the neo-liberal policies chosen by successive UK and western governments.
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