The Forum > Article Comments > Globalisation in trouble - part I > Comments
Globalisation in trouble - part I : Comments
By Bernard Gordon, published 22/2/2010The lack of equitable burden-sharing in today's NATO and the US-Japan alliance could undermine free trade.
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but quickly started in on the military situation in the world.
It was not till the at the end when he said;
>Today’s insufficient burden-sharing in both the NATO and Japan
>alliances threatens that structure and needs quickly to be resolved
>because it threatens continuing globalisation as well.
I wonder if Bernard realises that globalisation will be ending fairly
soon ?
Already steel production and furniture manufacture has moved back to
the United States from China.
As fuel prices rise the cost of moving a container across the Pacific
rises with it. This nibbling away at the wage advantage of the Chinese
will ultimately remove Chinese wage advantage from all but the most
compact high value for volume goods.
This trend will accelerate from around the middle of this decade and
by the middle of the next decade the WTO will be just so much waste paper.
China will have an increasing problem in raising the living standard
of its people in a depleting fuel, oil and coal supply that they
will likely be unable to pay for large imports of the remaining coal
if anyone would be willing to sell it by that time.
If I can suggest to Bernard that he reads a book by a Canadian
economist Jeff Rubin; "Your World is About to Get a Whole Lot Smaller".
I have just finished it and it is a real eye opener.