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Globalization Marches On

LONDON – In a recent symposium in the Financial Times on globalization’s prospects in 2011, the columnist Gideon Rachman observed that, “When Barack Obama visited India recently, the US President warned his hosts that the debate about globalization has reopened in the West,” and that “a backlash…is forming…and growing in advanced economies.”

But Rachman’s alarmism is misplaced. The fear of globalization in the West is nothing new. Articulate intellectuals and groups such as labor unions and environmental organizations in the advanced economies have voiced anti-globalization fears and sentiments for at least a quarter-century.