Wednesday, August 14, 2019
PUTIN : WHO HAS BENEFITED FROM GLOBALIZATION? FT EXCERPT
To quote Thomas L Friedman: Just because Putin believes it doesn't mean it isn't true.
".....China, in particular, has made use of globalization to pull millions of Chinese out of poverty....the middle class in the United States has not benefited from globalization...it was left out when this pie was divided up...The Trump team sensed this very keenly and clearly and they used this in the election campaign...It is where you should look for reasons behind Trump's victory...rather than in any alleged foreign interference.....I believe this may explain his seemingly extravagant economic decisions...He believes that the distribution of benefits and resources of globalization in the past decade was unfair to the United States...Maybe this can explain his unusual behaviour....."VP
(FT claims that paradoxically VP is defending globalization against DT. That does not seem to me to be exactly what VP is doing here. In fact, Putin implied that globalization had benefited China the most, just as China had once complained, in 1971, to Nixon, that globalization had benefited Japan the most, against both the US and China, which, at that time, it had.)
"...FT: Are you putting too many eggs in the China basket?"
"...there are not that many places where these eggs can be placed..." VP
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