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International economic news

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July 22, 2007

Globalization: we love it, we love it not...

The FT reports citizens of rich countries view globalization as an "overwhelmingly negative force." Respondents in France, Britain, and the U.S. are three times more likely to say that globalization is negative than to say that it is positive. Here is a summary of the report: 

image 

The report is based on a FT/Harris poll "which surveyed more than 1,000 people online in each of the six countries."

I am not sure how seriously to take it. Here is another recent poll, with sharply divergent results:

image

This one is from the Chicago Council on Global Affairs and WorldPublicOpinion.org.  It shows an overwhelming majority of Americans think globalization is mostly good. 

So which is it?  Do American love or hate globalization? Or does it not matter, since none of the relevant decisions will be made by majority vote?

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Comments

One point that is always made by people in the business of polling is that the way one articulates the question can have an important effect on answers. To the extent that the wording differs, one should be careful about comparing results from different sources.

It hasn't mattered for a long time what the voters want, from free trade to the Iraq war.

Whoever is most generous with their political contribution gets what they want!

Unfortunately those generous contributers are aided and abetted by an uncritical media and those in academia with nothing to lose regardless of the outcome.

Mind you I am not saying that free trade and globalization are bad, but I'm exceedingly suspicious of the sales pitch, the salesmen, and everyone who stands to profit from it.

It would have been far wiser to move slowly and carefully rather than jumping into the water as we did. Cheap TVs are great, but you need a job to purchase one, right? Anyone still make TV sets in the US? Thought not!

One good thing I take from this poll is that, at least to the first two questions, the majority of people were able to acknowledge that they weren't sure what kind of effects globalization was having on their country. Of course given that so many people weren't sure what kind of effect globalization was having it is disturbing to see how many of them had an opinion on the second two questions.

devilish twist...

" does it not matter, since none of the relevant decisions will be made by majority vote"

The losers hate it.

Need a house, plenty of foreclosures in Ohio and Michigan - really cheap.

The losers hate it.

Need a house, plenty of foreclosures in Ohio and Michigan - really cheap.

The losers hate it.

Need a house, plenty of foreclosures in Ohio and Michigan - really cheap.

The losers hate it.

Need a house, plenty of foreclosures in Ohio and Michigan - really cheap.


As someone already mentioned, articulation of the question is a major source of problems. In this case, the Chicago Council'question asks specifically about effects on the economy. I would not be surprised if many people think that globalization might be good for the economy, but bad in different aspects. I don't know about the US, but many Europeans do not so much fear that globalization will hurt their economy, but that it will force them to change their way of life, especially towards a more American style.

Especially in France, people identify globalization with a danger to their cheeses, their wines, their movies, not so much their economy.

I suppose the US is not so afraid to be americanized by globalization, but similar "it's not the economy" arguments may apply.

On a sidenote, the first graph of the FT article has red for positive, dark pink for negative and light pink for 'don't know'. All other graphs have dark pink for 'don't know' and light pink for no.

If those are the correct colors, the first graph suggest two times as many negative americans than positive, not three times. However, this coding also suggests that the US is the most negative country with respect to globalization, which does sound strange.

Apologies for multiple posts, my computer is insane and I cannot find the problem.

Apologies for multiple posts, my computer is insane and I cannot find the problem.

For people who cannot afford their monthly payments and cannot refinance, and who owe more than their house is worth, a short sale may be the answer. More about short sales in a moment. Deed in lieu seems preferable. In deed in lieu, you deed your house to your mortgage lender and that ends the foreclosure process.
http://www.thejohnbeck.tv

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