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<DIV><SPAN class="599053314-08012007"><FONT color="#0000ff">Thank you
Francoise.</FONT></SPAN></DIV>
<DIV><SPAN class="599053314-08012007"><FONT color="#0000ff"></FONT></SPAN> </DIV>
<DIV><SPAN class="599053314-08012007"><FONT color="#0000ff">m</FONT></SPAN></DIV>
<BLOCKQUOTE>
<DIV class="OutlookMessageHeader" dir="ltr" align="left"><FONT face="Tahoma" size="2">-----Original Message-----<BR><B>From:</B>
IPHCWORLDWIDE@<wbr>yahoogroups.<wbr>com [mailto:IPHCWORLDWI<wbr>DE@yahoogroups.<wbr>com]<B>On
Behalf Of </B>francoise barten<BR><B>Sent:</B> January 8, 2007 6:53
AM<BR><B>To:</B> IPHCWORLDWIDE@<wbr>yahoogroups.<wbr>com<BR><B>Subject:</B>
[IPHCWORLDWIDE] Bello: Globalization in Retreat<BR><BR></FONT></DIV>
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<P><BR><BR>
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<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;">Best
wishes, </SPAN></FONT></P>
<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;">Francoise. </SPAN></FONT></P>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><A href="http://fpif.org/fpiftxt/3826" target="_blank">http://fpif.<WBR>org/fpiftxt/<WBR>3826
</A></SPAN></FONT></P></DIV>
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<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;"></SPAN></FONT> </P></DIV>
<DIV>
<P><B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-WEIGHT: bold;FONT-SIZE: 7.5pt;COLOR: black;">Globalization in
Retreat</SPAN></FONT></B><BR><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;">Walden Bello | December
27, 2006<BR><BR>When it first became part of the English vocabulary in the
early 1990s, globalization was supposed to be the wave of the future. Fifteen
years ago, the writings of globalist thinkers such as Kenichi Ohmae and Robert
Reich celebrated the advent of the emergence of the so-called borderless
world. The process by which relatively autonomous national economies become
functionally integrated into one global economy was touted as "irreversible. "
And the people who opposed globalization were disdainfully dismissed as modern
day incarnations of the Luddites that destroyed machines during the Industrial
Revolution. <BR><BR>Fifteen years later, despite runaway shops and
outsourcing, what passes for an international economy remains a collection of
national economies. These economies are interdependent no doubt, but domestic
factors still largely determine their dynamics. </SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;">Globalization, in fact, has reached its
high water mark and is receding.</SPAN></FONT></P></DIV>
<DIV>
<P><B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-WEIGHT: bold;FONT-SIZE: 7.5pt;COLOR: black;">Bright Predictions,
Dismal Outcomes</SPAN></FONT></B></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;">During globalization'<wbr>s heyday, we were
told that state policies no longer mattered and that corporations would soon
dwarf states. In fact, states still do matter. The European Union, the U.S.
government, and the Chinese state are stronger economic actors today than they
were a decade ago. In China, for instance, transnational corporations (TNCs)
march to the tune of the state rather than the other way around.
</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><BR>Moreover, state policies that
interfere with the market in order to build up industrial structures or
protect employment still make a difference. Indeed, over the last ten years,
interventionist government policies have spelled the difference between
development and underdevelopment, prosperity and poverty. Malaysia's
imposition of capital controls during the Asian financial crisis in 1997-98
prevented it from unraveling like Thailand or Indonesia. Strict capital
controls also insulated China from the economic collapse engulfing its
neighbors. <BR><BR>Fifteen years ago, we were told to expect the emergence of
a transnational capitalist elite that would manage the world economy. Indeed,
globalization became the "grand strategy" of the Clinton administration, which
envisioned the U.S. elite being the primus inter pares -- first among equals
-- of a global coalition leading the way to the new, benign world order.
Today, this project lies in shambles. During the reign of George W. Bush, the
nationalist faction has overwhelmed the transnational faction of the economic
elite. These nationalism-<WBR>inflected states are now competing sharply with
one another, seeking to beggar one another's economies. <BR><BR>A decade ago,
the World Trade Organization (WTO) was born, joining the World Bank and the
International Monetary Fund (IMF) as the pillars of the system of
international economic governance in the era of globalization. With a
triumphalist air, officials of the three organizations meeting in Singapore
during the first ministerial gathering of the WTO in December 1996 saw the
remaining task of "global governance" as the achievement of "coherence," that
is, the coordination of the neoliberal policies of the three institutions in
order to ensure the smooth, technocratic integration of the global economy.
<BR><BR>But now Sebastian Mallaby, the influential pro-globalization
commentator of the Washington Post, complains that "trade liberalization has
stalled, aid is less coherent than it should be, and the next financial
conflagration will be managed by an injured fireman." In fact, the situation
is worse than he describes. The IMF is practically defunct. Knowing how the
Fund precipitated and worsened the Asian financial crisis, more and more of
the advanced developing countries are refusing to borrow from it or are paying
ahead of schedule, with some declaring their intention never to borrow again.
These include Thailand, Indonesia, Brazil, and Argentina. Since the Fund's
budget greatly depends on debt repayments from these big borrowers, this
boycott is translating into what one expert describes as "a huge squeeze on
the budget of the organization.<wbr>" </SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><BR>The World Bank may seem to be in
better health than the Fund. But having been central to the debacle of
structural adjustment policies that left most developing and transitional
economies that implemented them in greater poverty, with greater inequality,
and in a state of stagnation, the Bank is also suffering a crisis of
legitimacy. <BR><BR>But the crisis of multilateralism is perhaps most acute at
the WTO. Last July, the Doha Round of global negotiations for more trade
liberalization unraveled abruptly when talks among the so-called Group of Six
broke down in acrimony over the U.S. refusal to budge on its enormous
subsidies for agriculture. The pro-free trade American economist Fred Bergsten
once compared trade liberalization and the WTO to a bicycle: they collapse
when they are not moving forward. The collapse of an organization that one of
its director generals once described as the "jewel in the crown of
multilateralism" may be nearer than it seems. </SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;"></SPAN></FONT> </P></DIV>
<DIV>
<P><B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-WEIGHT: bold;FONT-SIZE: 7.5pt;COLOR: black;">Why Globalization
Stalled</SPAN></FONT></B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"> <BR>Why did globalization run aground?
First of all, the case for globalization was oversold. The bulk of the
production and sales of most TNCs continues to take place within the country
or region of origin. There are only a handful of truly global corporations
whose production and sales are dispersed relatively equally across regions.
<BR><BR>Second, rather than forge a common, cooperative response to the global
crises of overproduction, stagnation, and environmental ruin, national
capitalist elites have competed with each other to shift the burden of
adjustment. The Bush administration, for instance, has pushed a weak-dollar
policy to promote U.S. economic recovery and growth at the expense of Europe
and Japan. It has also refused to sign the Kyoto Protocol in order to push
Europe and Japan to absorb most of the costs of global environmental
adjustment and thus make U.S. industry comparatively more competitive. While
cooperation may be the rational strategic choice from the point of view of the
global capitalist system, national capitalist interests are mainly concerned
with not losing out to their rivals in the short term.
</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><BR>A third factor has been the
corrosive effect of the double standards brazenly displayed by the hegemonic
power, the United States. While the Clinton administration did try to move the
United States toward free trade, the Bush administration has hypocritically
preached free trade while practicing protectionism. Indeed, the trade policy
of the Bush administration seems to be free trade for the rest of the world
and protectionism for the United States. <BR><BR>Fourth, there has been too
much dissonance between the promise of globalization and free trade and the
actual results of neoliberal policies, which have been more poverty,
inequality, and stagnation. One of the very few places where poverty
diminished over the last 15 years is China. But interventionist state policies
that managed market forces, not neoliberal prescriptions, were responsible for
lifting 120 million Chinese out of poverty. Moreover, the advocates of
eliminating capital controls have had to face the actual collapse of the
economies that took this policy to heart. The globalization of finance
proceeded much faster than the globalization of production. But it proved to
be the cutting edge not of prosperity but of chaos. The Asian financial crisis
and the collapse of the economy of Argentina, which had been among the most
doctrinaire practitioners of capital account liberalization, were two decisive
moments in reality's revolt against theory. <BR><BR>Another factor unraveling
the globalist project is its obsession with economic growth. Indeed, unending
growth is the centerpiece of globalization, the mainspring of its legitimacy.
While a recent World Bank report continues to extol rapid growth as the key to
expanding the global middle class, global warming, peak oil, and other
environmental events are making it clear to people that the rates and patterns
of growth that come with globalization are a surefire prescription for
ecological Armageddon. <BR><BR>The final factor, not to be underestimated, has
been popular resistance to globalization. The battles of Seattle in 1999,
Prague in 2000, and Genoa in 2001; the massive global anti-war march on
February 15, 2003, when the anti-globalization movement morphed into the
global anti-war movement; the collapse of the WTO ministerial meeting in
Cancun in 2003 and its near collapse in Hong Kong in 2005; the French and
Dutch peoples' rejection of the neoliberal, pro-globalization European
Constitution in 2005 -- these were all critical junctures in a decade-long
global struggle that has rolled back the neoliberal project. But these
high-profile events were merely the tip of the iceberg, the summation of
thousands of anti-neoliberal, anti-globalization struggles in thousands of
communities throughout the world involving millions of peasants, workers,
students, indigenous people, and many sectors of the middle class.
</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;"></SPAN></FONT> </P></DIV>
<DIV>
<P><B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-WEIGHT: bold;FONT-SIZE: 7.5pt;COLOR: black;">Down but not
out</SPAN></FONT></B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"> <BR>While corporate-driven
globalization may be down, it is not out. Though discredited, many
pro-globalization neoliberal policies remain in place in many economies, for
lack of credible alternative policies in the eyes of technocrats. With talks
dead-ended at the WTO, the big trading powers are emphasizing free trade
agreements (FTAs) and economic partnership agreements (EPAs) with developing
countries. These agreements are in many ways more dangerous than the
multilateral negotiations at the WTO since they often require greater
concessions in terms of market access and tighter enforcement of intellectual
property rights. <BR><BR>However, things are no longer that easy for the
corporations and trading powers. Doctrinaire neoliberals are being eased out
of key positions, giving way to pragmatic technocrats who often subvert
neoliberal policies in practice owing to popular pressure. When it comes to
FTAs, the global south is becoming aware of the dangers and is beginning to
resist. Key South American governments under pressure from their citizenries
derailed the Free Trade of the Americas (FTAA) -- the grand plan of George W.
Bush for the Western hemisphere -- during the Mar del Plata conference in
November 2005. <BR><BR>Also, one of the reasons many people resisted Prime
Minister Thaksin Shinawatra in the months before the recent coup in Thailand
was his rush to conclude a free trade agreement with the United States.
Indeed, in January this year, some 10,000 protesters tried to storm the
building in Chiang Mai, Thailand, where U.S. and Thai officials were
negotiating. The government that succeeded Thaksin's has put the U.S.-Thai FTA
on hold, and movements seeking to stop FTAs elsewhere have been inspired by
the success of the Thai efforts.</SPAN> </FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><BR>The retreat from neoliberal
globalization is most marked in Latin America. Long exploited by foreign
energy giants, Bolivia under President Evo Morales has nationalized its energy
resources. Nestor Kirchner of Argentina gave an example of how developing
country governments can face down finance capital when he forced northern
bondholders to accept only 25 cents of every dollar Argentina owed them. Hugo
Chavez has launched an ambitious plan for regional integration, the Bolivarian
Alternative for the Americas (ALBA), based on genuine economic cooperation
instead of free trade, with little or no participation by northern TNCs, and
driven by what Chavez himself describes as a "logic beyond capitalism."
</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Times New Roman" size="3"><SPAN style="FONT-SIZE: 12pt;"></SPAN></FONT> </P></DIV>
<DIV>
<P><B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-WEIGHT: bold;FONT-SIZE: 7.5pt;COLOR: black;">Globalization in
Perspective</SPAN></FONT></B><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"> <BR>From today's vantage
point, globalization appears to have been not a new, higher phase in the
development of capitalism but a response to the underlying structural crisis
of this system of production. Fifteen years since it was trumpeted as the wave
of the future, globalization seems to have been less a "brave new phase" of
the capitalist adventure than a desperate effort by global capital to escape
the stagnation and disequilibria overtaking the global economy in the 1970s
and 1980s. The collapse of the centralized socialist regimes in Central and
Eastern Europe deflected people's attention from this reality in the early
1990s. <BR><BR>Many in progressive circles still think that the task at hand
is to "humanize" globalization. Globalization, however, is a spent force.
Today's multiplying economic and political conflicts resemble, if anything,
the period following the end of what historians refer to as the first era of
globalization, which extended from 1815 to the eruption of World War I in
1914. The urgent task is not to steer corporate-driven globalization in a
"social democratic" direction but to manage its retreat so that it does not
bring about the same chaos and runaway conflicts that marked its demise in
that earlier era. <BR><BR>Walden Bello is professor of sociology at the
University of the Philippines and executive director of the Bangkok-based
research and advocvacy institute Focus on the Global South. An extended
version of this piece titled "The Capitalist Conjuncture: Overaccumulation,
Financial Crises, and the Retreat from Globalization,<wbr>" appears in the latest
issue of Third World Quarterly (Vol. 27, No. 8, 2006).
</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><BR> <BR><BR>World
Beat<BR><BR>Published by Foreign Policy In Focus (FPIF), a joint project of
the International Relations Center (IRC, online at <A href="http://www.irc-online.org/" target="_blank">www.irc-online.<WBR>org</A>)
and the Institute for Policy Studies (IPS, online at <A href="http://www.ips-dc.org/" target="_blank">www.ips-dc.org</A>). ©Creative
Commons - some rights reserved.<BR><BR>Recommended citation:<BR>Walden Bello,
"Globalization in Retreat" (Silver City, NM and Washington, DC: Foreign Policy
In Focus, December 27, 2006). <BR><BR>Web location:</SPAN></FONT></P></DIV>
<DIV>
<P><FONT face="Lucida Grande" color="black" size="1"><SPAN style="FONT-SIZE: 7.5pt;COLOR: black;"><A href="http://fpif.org/fpiftxt/3826" target="_blank">http://fpif.<WBR>org/fpiftxt/<WBR>3826 </A><BR><BR>Production
Information:<BR>Author(s): Walden Bello<BR>Editor(s): John Feffer,
IRC</SPAN></FONT></P></DIV>
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<a href="http://groups.yahoo.com/group/IPHCWORLDWIDE;_ylc=X3oDMTJlMHBnbGdhBF9TAzk3MzU5NzE0BGdycElkAzQ3Nzc0ODcEZ3Jwc3BJZAMxNzA1MDYyMjE1BHNlYwN2dGwEc2xrA3ZnaHAEc3RpbWUDMTE2ODI2ODEwMg--">
Visit Your Group </a>
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<li><a href="http://groups.yahoo.com/gads;_ylc=X3oDMTJjZnBwN2dmBF9TAzk3MzU5NzE0BF9wAzEEZ3JwSWQDNDc3NzQ4NwRncnBzcElkAzE3MDUwNjIyMTUEc2VjA3NsbW9kBHN0aW1lAzExNjgyNjgxMDI-?t=ms&k=Health+and+wellness+in+the+workplace&w1=Health+and+wellness+in+the+workplace&w2=Health+wellness+product&w3=Center+for+health+and+wellness&w4=Health+and+wellness+center&w5=Health+and+wellness&c=5&s=164&g=2&.sig=ul8L9PSO9mKdxoc2GN8Ozw">Health and wellness in the workplace</a></li>
<li><a href="http://groups.yahoo.com/gads;_ylc=X3oDMTJjZHVtM3VpBF9TAzk3MzU5NzE0BF9wAzIEZ3JwSWQDNDc3NzQ4NwRncnBzcElkAzE3MDUwNjIyMTUEc2VjA3NsbW9kBHN0aW1lAzExNjgyNjgxMDI-?t=ms&k=Health+wellness+product&w1=Health+and+wellness+in+the+workplace&w2=Health+wellness+product&w3=Center+for+health+and+wellness&w4=Health+and+wellness+center&w5=Health+and+wellness&c=5&s=164&g=2&.sig=J7Qpeb1DnNF64B84jl9P0w">Health wellness product</a></li>
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<p><a href="http://us.ard.yahoo.com/SIG=12l5ilmlg/M=493064.9803227.10510220.8674578/D=grphealth/S=1705062215:NC/Y=YAHOO/EXP=1168275302/A=3848643/R=0/SIG=131q47hek/*http://searchmarketing.yahoo.com/arp/srchv2.php?o=US2005&cmp=Yahoo&ctv=Groups4&s=Y&s2=&s3=&b=50">Learn more now.</a></p>
<p>Reach customers</p>
<p>searching for you.</p> </div>
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<div id="hd1">Drive Traffic</div>
<p><a href="http://us.ard.yahoo.com/SIG=12lvrgv3h/M=493064.9803229.10510223.8674578/D=grphealth/S=1705062215:NC/Y=YAHOO/EXP=1168275302/A=4025338/R=0/SIG=12jnci1fd/*http://us.rd.yahoo.com/evt=44092/*http://searchmarketing.yahoo.com/srch/index.php">Sponsored Search</a></p>
<p>can help increase</p>
<p>your site traffic.</p> </div>
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<div id="hd1">Yahoo! 360°</div>
<p><a href="http://us.ard.yahoo.com/SIG=12lt5m8ab/M=493064.9803211.10510204.8674578/D=grphealth/S=1705062215:NC/Y=YAHOO/EXP=1168275302/A=3848505/R=0/SIG=10mmpqqkm/*http://360.yahoo.com">Get Started</a></p>
<p>Create your page</p>
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