It’s Not Only Necessary to Develop an Alternative to Globalization — It’s Entirely Possible

By Walden Bello, Foreign Policy In Focus

Free trade and the freedom of capital to move across borders have been the cutting edge of globalization. They’ve also led to the succession of crises that have led to the widespread questioning of capitalism as a way of organizing economic life — and of its paramount ideological expression, neoliberalism. The protests against capitalism at the recent G20 meeting in Hamburg may seem superficially the same as those which marked similar meetings in the early 2000s. But there’s one big difference now: Global capitalism is in a period of long-term stagnation following the global financial crisis. The newer protests represent a far broader disenchantment with capitalism than the protests of the 2000s. Yet capitalism’s resilience amidst crisis must not be underestimated. For trade activists, in particular, who’ve been on the forefront of the struggle against neoliberalism and globalization over the last two decades, there are a number of key challenges...

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