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Response to B Calm (Reply #57)

Wed Feb 5, 2014, 07:38 AM

58. Hey, you can be a 'globalist' and not support the TPP.

I prefer 'internationalist' (which I think FDR definitely was), but I understand that 'globalist' has more 'zing' to it.

If the TPP was a European-style, high-standards agreement on issues like labor rights and the environment, I would support it ('globalist' slings and arrows notwithstanding). But it is not.

Globalization has had winners and losers (as did 'pre-globalization' and as would 'post-globalization', if it happens):



The top 1% has seen its real income rise by more than 60% over those two decades. The largest increases however were registered around the median: 80% real increase at the median itself and some 70% around it. It is there, between the 50th and 60th percentile of the global income distribution that we find some 200 million Chinese, 90 million Indians, and about 30 million people each from Indonesia, Brazil and Egypt. These two groups—the global top 1% and the workers of the emerging market economies— are indeed the main winners of globalization...

But the biggest loser (other than the very poorest 5%), or at least the “non-winner,” of globalization were those between the 75th and 90th percentile of the global income distribution whose real income gains were essentially nil. These people, who may be called a global upper-middle class, include many from former Communist countries and Latin America, as well as those citizens of rich countries whose incomes stagnated.

http://gulzar05.blogspot.com/2013/11/measuring-global-inequality.html

While it is encouraging to see much progress in the incomes of previously very poor people (from the poorest 10% up to the poorest 70% or so), the growth of incomes of the 1% needs to be addressed and redistributed to the poorest 5% and the middle class in the developed world.

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