Has globalisation found its new face? Trends indicate so.
Globalisation has a brave new face
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The world is witnessing unprecedented change and uncertainty as an extroverted America pulls inward, risking the whole story of globalization. President Trump is actually putting into action his election promises – much to the shock of many in America itself. Two potential developments – (1) the leadership of German Chancellor Angela Merkel (for the Western alliance), and (2) the extroversion shown by Chinese President Xi Jinping on globalization and free trade. Both have been doubted. Today, as the post-world-war order is in its most delicate phase, ready to break apart, China has warned the world about the “dangers of preventing free flow of goods, services, capital and people” across the world.
Naturally, the Chinese are very worried as their entire modern prosperity is built on the massive reforms embracing globalization (Deng Xiaoping, starting 1979). Their forex reserves today stand at US $ 3 trillion plus! The Chinese are also pushing for an immediate enforcement of the Paris accord on climate change! Strange. As per Xi Jinping, mass migrations in recent years are due to conflicts and wars, not globalization. But at the same time, everyone knows that developing nations benefited from globalization the most, and Western world is facing the brunt of illegal and forced immigration today. But the big questions remain – How can China – an autocratic, non-democratic, non free-speech system – be the leader of a global world order? Read our detailed Bodhi on the arrival of Donald Trump, here.
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