To know more about the reversal of globalization trend, visit

http://www.donkeystock.biz/a-guide-to-the-path-of-globalisation (Part 1) 

http://www.donkeystock.biz/prosper-or-perish (Part 2)

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Concept

Democracy does not necessary comes with freedom and social fairness

Advantages of democracy: A system where various decision-making party have equal share of power

Disadvantages: Inefficient and non-stop political struggle

Time Line

Collapse of Arab Spring of 2011 into bloodshed and anarchy

Thailand military coup in 2014

Street demonstration found in Hong Kong, Malaysia, Ethiopia

Leaders that embody the spirits of the age:

Russia: Vladimir Putin

Turkey: Recep Tayyip Erdogan

Philippines: Rodrigo Duterte

US: Donald Trump

What has led to this?

Middle class has Increase their participation in voting

Emergence social media where everyone can express their opinion. Media is not controlled by the rich anymore

A trend has emerged from 1970s

·         Globalization

·         Neoliberalism

Effects of globalization

·         Environment are usually exploited in order to search for the lowest cost of production

·         Financial policy that only benefits the rich

·         Combination of artificially low interest rate, artificially inflated forex rate to gain competitive advantage in exporting. This causes inequality in wealth and economic turbulence.

·         Outsourcing and fragmentation of works leads to massive unemployment in certain group in the population

Neoliberalism

What is neoliberalism?

·         Support privatization

·         Oppose minimum wage

·         Suppress labour union

·         Minimizing tax and regulation

·         Oppose government intervention, where monetary policy are favoured over fiscal policy

Effects of these action

·         The rich persuade themselves that they acquired their wealth through merit, ignoring the advantages – such as education, inheritance and class

·         Freedom from trade unions and collective bargaining means the freedom to suppress wages.

·         Freedom from regulation means the freedom to poison rivers, endanger workers and design exotic financial instruments.

·         Freedom from tax means freedom from the distribution of wealth that lifts people out of poverty.

·         Privatization of government service means more corruption and rent seeker in the economy.

·         Monetary policy leads to a redistribution of wealth to the rich whereas fiscal policy creates wealth by upgrading infrastructure and increasing productivity of the nation

In 1970s, the collapse of Bretton Woods System, where USD is no longer pegged to gold has to a huge increase in money supply, inflating all the asset prices around the world.

Conclusion:

Today may seem more dangerous ever but the middle class is now awakening