Inequality (W5)

• De-globalisation is the movement of to a less connected world through border controls, powerful nation states and local solutions.
• Globalisation is still occurring but at a much slower economic rate (slowbalisation) than in the past.
• de-globalisation processes in the USA include: trade tariffs, re-shoring of jobs and the rejection of immigration to the country.
• de-globalisation in the Uk includes: Brexit (limiting the movement of citizens and allowing individual trade policies) and re-shoring of jobs.
• de-globalisation in China includes: the great fire wall (of the internet, limiting and controlling the exchange of information).
• de-globalisation also occurs at a citizen level through: buying locally and political participation.
• the drive towards de-globalisation is a result of several factors including: a discontent with the outcome of globalisation, new geo-political tensions, technological advancements and the 3 Cs (conflict, climate and covid)
• a discontent with the spread of positive and negative outcome of globalisation drives de-globalisation.
• a negative outcome of globalisation is the increase in economic inequality within and between countries
• geo-political tension is due to rising and falling economic powers that share differing values. Such as the US and China
• technological advancements may allow for the re-shoring of jobs through the use of machinery (doing low-skill task), this reduces the spread of production globally.
• Conflict, Climate and Covid highlight the vulnerability countries face if they rely to heavily on imports from other places, this has led to a rise in locally produced goods and services