SAM BAI The Anti-Globalization Movement

Question What are the rationale behind the dialects of anti- Globalization movement and anti-Globalization scholar like Joseph Stiglitz? How do you evaluate such movement and scholarly claims?

Background of Economic Globalization WW2 created chaos on a world scale Set up a divide between communist countries and democratic countries -> Cold War This divided world created a globalized economy All countries became interconnected and dependent on each other This created situation where some countries were given opportunities to advance -> many first world countries = unique and powerful split globalized world economy Some countries thrive, Some countries fail Break down of colonialism Control of capitalism

Anti-Globalization: What are their arguments? 1. Exacerbate income inequalities between industrialized and developing nations 2. Transnational corporations seek to maximize profits without regard for needs for developing countries 3. Homogenization -> destruction of cultural diversity 4. Creates new global problems

1. Increase income inequalities Theoretically – those without capital cannot gain from the economic integration inherent in globalization  Competition creates winners and losers

2. MNCs maximizing profits Capitalism = corporations support their own financial interests Give less power and freedom to individual and smaller business Exploit developing countries Against WTO and IMF  No regard for ethical standards or environmental protection

3. Threat to Cultural Diversity “McWorld” Homogenization Predominantly American Is destroying national cultures and traditions

4. Creates new Global Problems International organized crime Global terrorism Worldwide environmental problems Exploitation of women

Who are the Anti-Globalizationists? Laborers Anarchists Unionists Occupy Wall Street Consumers Farmers Environmentalists Feminists Students Anti-Illuminati a.k.a. Killuminati

Globalization vs Anti-Globalization

Opinions of Economists/Scholars Joseph Stiglitz Recipient of Nobel Prize in Economic Sciences (2001) Former Senior Vice President and Chief Economist of the World Bank Former member and chairman of the US President’s Council of Economic Advisors Known for his critical view of the management of globalization, laisseze-faire economists, and international institutions (IMF, World Bank)

“Since globalization of markets is, on its own, a very inadequate approach to world prosperity, there is a need to go beyond the priorities that find expression in the chosen focus of global capitalism.” – Amartya Sen

Examples of Anti-Globalization Protests World Bank Protest, Washington D.C  2,000 People gathered to protest against World Bank and IMF  649 arrested, 17 reporters  Protestors sued in Federal Court about the arrests  2009 – city of D.C. payed $8.25 million to almost 400 protestors over the mass arrests

Examples of Anti-Globalization Protests Genoa G8 Summit protest, 2001  One of the bloodiest protests in Western Europe’s recent history  Genoa, Italy, July 18-21, 2001  Over 300,000 protestors  Death of young Genoese anarchist Carlo Giuliani, shot in the face while trying to throw a fire extinguisher at a police car

Criticisms of Anti-Globalization movements Disorganized Violent No tangible solution Lack of tangible evidence

Conclusion Gap between the rich and poor countries is widening The international institutions create trade conditions that benefit rich countries at the expense of poor countries Do not want indigenous cultures and native languages to disappear Continuous exploitation of natural resources will cause severe damages of the global environment

The End. Thank you for listening!

Discussion Questions What are some realistic but possible solutions that will satisfy Anti-Globalizationists’ needs? New World Order? Illuminati? Are we screwed?