Unpacking the Backlash Against Globalization and its Impact on Inequality – Pinelopi Koujianou Goldberg

In Pursuit of Development

Globalization is a force that has transformed our world in ways both remarkable and challenging. From the historic wave of trade liberalizations in the late 20th century to the monumental rise of China, an intricate interplay of a range of forces has molded the interconnected nature of our planet. Along the way, we have witnessed the decline of manufacturing in advanced economies and the far-reaching impacts of trade on global poverty, inequality, and labor markets. Despite a rapid advance for two decades, globalization slowed after the 2008–2009 financial crisis, but it did not come to a halt. But we have witnessed in recent years a backlash against globalization, particularly in some of the world’s largest economies, including two of globalization’s bastions, the United States and Great Britain. So, is the world economy deglobalizing? Is globalization in crisis? And are we witnessing the beginning of a new era?

Pinelopi (Penny) Koujianou Goldberg is the Elihu Professor of Economics at Yale University and the former chief economist of the World Bank Group. Penny was recently in Oslo to deliver the WIDER Annual lecture. We used that opportunity to engage in a discussion centred around her latest book with Greg Larson – The Unequal Effects of Globalization. @PennyG_Yale

Key highlights

• Introduction - 00:24
• Globalization and development - 03:13
• Winners and losers of hyperglobalization - 09:00
• Reasons for dissatisfaction in the Global South - 16:22
• Backlash against globalization in the Global North - 26:40
• How China and many others benefited from globalization - 33:44
• TRIPS waiverand manufacturing capacity - 41:26
• Climate disruption and future of multilateralism - 45:40
• Is degrowth feasible? – 52:40

Host

Professor Dan Banik (@danbanik @GlobalDevPod)

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https://globaldevpod.substack.com/

Host

Dan Banik (@danbanik @GlobalDevPod)

Apple Spotify YouTube

Subscribe:

https://in-pursuit-of-development.simplecast.com

https://globaldevpod.substack.com/