Globalization

Globalization is the modern day equivalent of colonization and it is about to go away just as colonization went away. Global marketing got its start when Milton Friedman said free trade was the answer to maximum productivity. He saw free trade a the great income and social equalizer. It would provide products in the most efficient way and raise the standard of living for everyone. It came into its own in the 1950's and has grown rapidly since. Since 1980 the value of world trade has grown from $2 trillion to $22 trillion while raising over one billion people out of poverty. The way that China has misused the WTO and caused the rapid loss of jobs in Western countries cause some to question the value of free trade when the rules were not followed. This led to an increase in nationalism recently emphasized by Trumps Make America Great Again and even more recently with Biden's Made In America. This,"country first" idea is spreading to Europe. This movement, is encouraged by the complexity and break down of the supply chain, and offers good reasons to bring production back home. The pandemic added to the problems of the supply chain and force companies to look for new suppliers who are friendlier and closer to home. While international trade will continue to grow it will be at a slower rate. The comparison with colonization is not without merit. During the industrial revolution the West, including the US, looked to Asia and Africa for raw materials and mined them without concern for pollution. The same thing is happening today as the search for minerals needed for the green deal are polluting the water in China and then these same minerals are sent to Africa for disposal. The water supply in China is being poisoned so the West can have touch screen high tech products. History repeats itself.