Thursday, October 7, 2010

Play Nice

It amuses me when nations don't play nice for the sake globalization. For example everybody wants the Chinese to let their currency float freely on the open market. So far they have resisted because keeping their currency artificially weak is good for their economy which depends on exports. And other countries are taking the same action. And why shouldn't they? A government's first responsibility is to it's own country, is it not?

The governments of certain Western nations have been drinking the globalization Kool-Aid for too long. Globalization only benefits large multinational corporations while it hurts national economies. It seems some governments are finally realizing this and are taking appropriate action. The global economy might suffer while national economies flourish as they did in the past. I don't have a problem with this.

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