What's Behind The Global Backlash
In an era of unprecedented prosperity, why is there a growing backlash in America against globalization? The benefits of free trade may appear obvious to CEOs, policymakers, and pundits, but denial of a rising wave of public anger against trade could prove dangerous. Those who marched in Seattle and Washington, D.C., reflect a disparate but real collection of grievances that simply will not go away. That they are joined by growing numbers of protesters in Europe makes their cause all the more powerful. Champions of free trade must begin to understand the underlying reasons behind the protest, and craft creative solutions to maintain the momentum of globalization. Unless measures are taken now, with the world economy in a strong upswing, the backlash will become much, much worse once the economic cycle begins to turn down. Denial is not an effective strategy.
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