How Far To A Globalised World?
Rushing to globalization is definitely not a slam dunk operation. While the WTO, IMF and the World Court can make/enforce some regs there is still much legislation that must first be done at the country level. And, even though international law may exist, certain countries accept some laws and reject others as to their liking. Disparity in wages, environmental regs, etc is still huge as it relates to developed versus developing nations. Globalisation got its start during the Carter administration and from the progress made thus far we can ascertain some measure of how far we have to go.
To guesstimate how far we have come, one has to specify a point of completion. Since no gov't has defined for their people the final end goal one is left to speculate. Some might say that we are already globalised, done deal. Others would want to include Middle East countries in trade agreements. We would want to consider regional trade zones such as the EU and the circumspect NAU. IMO, the NAU has been implemented with the exception of the full immigration part. Trucks, trains and people are moving efficiently. Some work left to do on impediments to workers. The Southern US border still serves as the primary security perimeter.
Trade zones will continue to be fleshed out and new ones created. I suggest we may end up with something like this; the Americas, comprised of north, central and south America, an Asian zone comprised of the Asian rim, China and Russia, and the EU, comprising Europe and Africa. The big three, with outliers like Cuba and Australia attaching on to a teat of their liking.
Establishing zones, harmonizing trade and immigration and finance laws are the more easier goals to accomplish. If one sees a 'one world' governing system as the fulcrum of globalization the time span stretches way on out. Getting countries to give up their sovereignty completely will take a long while. Even today, after some decades under the EU umbrella, each time hard times approach a number of sovereigns want to pull out, revive their own currency, etc. Most countries can, some are eager to trash their constitution and get on with it. Getting around the Constitution on sovereign issues in the US has not been easy. Done mostly by Executive Order, which has to be signed by each new administration, Internal security issues resolved by having licensing agencies refuse cooperation unless the foreign entity agrees to play ball with US authorities. One could surmise that over time these work arounds will overwhelm any objection to leaving the Constitution to float in favor of a more efficient and productive 'one world' style of gov't. But, it's going to take a long while. In the news today that Germany is objecting strongly to the US reading their mail, etc.
One thing we have going for us is the US dollar will likely remain the currency of the world and English will serve as the intl language. A big plus would be the freedom gained to move around the world with no ID required other than a drivers license, no currency exchanges, and without the fear of crime, piracy and the like as laws in what was the US will be reflected around the world.
In the interim we must continue to be mystified with US gas prices near $4/gal whereas in Saudia Arabia its less than $.50/gal. And, where US workers making $12-15/hr are competing against foreign workers making $.50/hr or less. From my perspective it's going to be 50-60 years before things smooth out a bit.
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Posted by Roy Ellis at July 18, 2013 3:03 PM
I like to play poker. Poker is a closed system in which one players gain is another players loss. The resources at the table are finite and limited to the sum total of resources of the players at the table.
Economic systems, populations and resources in the real world are not static or closed. The fortunes of countries can rise and fall without direct and long-lasting dependence upon each other.
We have seen former Soviet Union countries thrive and excel after the yoke of communism was removed. We are now witnessing the downside of linking uncommon populations with differing human and natural resources into a failing European Union.
Many of our wisest leaders over much of our history have argued against foreign entanglements. It would be foolish to link the economic future of the United States too closely with any other country.
Agree Royal. Globalism is all about linking us up. Best case in point there might be the IMF shoving cash around the world to ‘balance’ things out, keep the weak afloat, etc.
Detroit might be a good example of changing resources. Detroit has been globalised to hell. They made cars until GM/Cherry went to China and, as of late, around the world, in search of the cheapest labor. Corpocracy paid them to leave and bailed out GM/Detroit with taxpayer dollars. Unions were busted and GM continues with token mfctring there.
Thirty years later, with auto mfctring resources all but gone, Detroit is bankrupt but, the city’s workers aren’t ‘too big to fail’ so they don’t get a bailout.
Detroit’s out-of-work workers are a reflection on the country as a whole. They can’t retrain to improve their auto worker skillset. They can’t move to ‘x’ state as jobs have been outsourced from ‘x’ state as well. They can try China or Bangladesh but probably couldn’t get on at a living wage. The best they can do is hire on with SNAP and work the fed/state system for $28-30k/yr.
Whereas, in by-gone days we used to have some control over our resources, that went out the door with globalisation. In previous years, when we had plenty of oil each state had relatively cheap gas available. Now that we are a producer again, that oil hits the ship or pipeline and heads staight to the highest bidder around the world. Insult to injury, the taxpayer will pay to build, either thru direct gov’t subsidity, tax credit/exemption, etc, the pipeline that carries the oil to the ship. And, thru the same kind of ‘magic’ the taxpayer will foot the insurance when the pipeeline breaks, etc.
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A WP article reports on the Moscow G20 meeting: relates that world economic officials are asking that international tax laws be harmonized to reflect the way corporations currently operate. More detailed discussions will follow over the next two years. Summit is being held amid heightened concerns that the world economy “may be” slowing.
At stake are “tens of billions of dollars” of tax revenue being lost in which companies apportion profits, expenses and investments to subsidiaries across complex global supply chains to limit the taxes they pay.
Report relates that overseas treaties are rooted in agreements that tried to limit double taxation on corporations, and stating that the situation has evolved in one of “double non-taxation”.
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President Obama gave a speech in Illinois this afternoon and the folks were ‘oye, oye, oye, etc. He trotted out the usual culprits he believes are holding down the working man, lack of about everything. He wants to work on the growing inequality between the haves and have nots.
Toward that end he wants to bring back mfctring jobs. Work on the carbon tax issue, cut red tape for biz, complete a tanker port in Jacksonville, rebuild bridges and infrastructure, implement pre-school for every 4 year old, hook up students to hi-spd internet within 5 yrs, improve high schools, challenge CEO’s to hire more American’s, etc. Says ‘we are not a selfish people’ and - - breaker, breaker - - seems like some of Bill Clinton’s old friends are back in the news - -
Otherwise, the President will work to allow those underwater with their mortgages to refinance their loans and turn the page on Fred/Fan. Wants new ways to beef up retirement savings. Will push for immigration reform which would vastly improve the economy and shore up the SS system and - - breaker, breaker, some surely unselfish people sliding through - -
The Pesident also wants to raise the minimum wage. Perhaps the most poignant of his comments; ‘by doing nothing money powers will distort our politics even more’. In fact, I believe he struck gold with that phrase. ‘Money influence in politics’; is that not THE problem? Uhh – Ohhh! Breaker, breaker, some more potentially selfish people are trying to defile another pristine, completely unselfish corporation - - http://www.bbc.co.uk/news/business-23440849
But, I really believe that Corpocracy is at the root of - - arrgg, breaker, breaker - - seedy people are even trying to slime hedge fund managers - -
I dunno, maybe the President is talking all around the real problem, What do u think ?
As the stock market hits alltime highs the Corpocracy is s comfortable sitting on their hands and waiting for worker wages to nosedive. Corpocracy set us on a guidepath to lo/no growth back in the 80’s and have had remarkable success to this point. The fact that we are coming up on 7 years of recession/depression and haven’t hit the ground suggest very good planning on their part.
Much of their success came thru their effort to bust up unions, bailout and reconstitute GM, and just keep the lid on while worker wages eek up around the developing world. Placating the working man has been relatively easy with the Bush and Obama admins delivering redundant/boring platitudes that ‘things are getting better’, ‘there’s more work to be done’, etc.
With little/no push-back from workers the Corpocracy must feel they are well on their way to fully implementing the ‘new normal’ as it relates to workers and wages. Economists of every stripe used to project growth and recovery based on every rising flower; stock market increase, oil/gas production up, trade agreements signed and the like. Now, all refer to the new normal as normal. Instead of growth projections of 5-7% most are comfortable with .9-1.5% for the next few years.
Come September Corpocracy will go back to ‘crisis’ more with the budget, debt ceiling and mid-term elections on their list of things to do. Let’s hope they can continue to deliver us to a soft landing at some point in time. As the Corpocracy has made fantastic wealth gains over the last couple of decades one has to admire how well they have placated those on the losing end of the spectrum. Money is available to any soul, foreign/domestic, who finds themselves washed up on these shores. SNAP, meds, education, training, disability, mortgage refinance, and so on - - -.
All this while holding inflation to 8-12%/yr. Admirable, but the big question is, just how much longer can the Corpocracy keep us afloat and what worker wage will be acceptable to begin putting people back to work.
Corpocracy is analogous to the criminal who is sure they are smarter than the cops and can get away with whatever. Perhaps we should all hope they are right.
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One world, one currency is never going to happen, unless a catastrophe hits the world and only one country survives it. In almost every country, we see some or the other alternate or parallel currency being exchanged. Case in point – bitcoins, gold for cash. Looking at the current state of global economy, I guess we are far from a situation where labor and resources can come to parity among countries. Great example of gas prices and hourly wages.
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