> Globalization and free trade are dead because most of the promised benefits for the west failed to materialize
Not sure about that. [1] [2] [3] [4]*
Global increase in purchase power have completely changed many markets, even in the West. Except, probably, the USA.
My speculation: when people say "globalization did not work" they mean "for my western Country, that got rich exploiting developing Countries"
But globalization is simply "the process of interaction and integration among people, companies, and governments worldwide" and achieved most of what it promised.
EDIT: talking a bit about the article, what's happening to TSMC is not due the fact that globalisation is dead, but because Taiwan is technically still part of China and the USA don't wanna go to war against China for Taiwan. Despite the fact that they support a free Taiwan, they never voted for its independence at UN.
"We oppose any unilateral changes to the status quo from either side; *we do not support Taiwan independence;* and we expect cross-Strait differences to be resolved by peaceful means" (https://www.state.gov/u-s-relations-with-taiwan/)
Not sure about that. [1] [2] [3] [4]*
Global increase in purchase power have completely changed many markets, even in the West. Except, probably, the USA.
My speculation: when people say "globalization did not work" they mean "for my western Country, that got rich exploiting developing Countries"
But globalization is simply "the process of interaction and integration among people, companies, and governments worldwide" and achieved most of what it promised.
EDIT: talking a bit about the article, what's happening to TSMC is not due the fact that globalisation is dead, but because Taiwan is technically still part of China and the USA don't wanna go to war against China for Taiwan. Despite the fact that they support a free Taiwan, they never voted for its independence at UN.
"We oppose any unilateral changes to the status quo from either side; *we do not support Taiwan independence;* and we expect cross-Strait differences to be resolved by peaceful means" (https://www.state.gov/u-s-relations-with-taiwan/)
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[1] https://www.statista.com/graphic/1/263770/gross-domestic-pro...
[2] https://www.statista.com/graphic/1/263771/gross-domestic-pro...
[3] https://i.insider.com/4d3dca0accd1d578410b0000?width=607&for...
[4] https://ourworldindata.org/exports/gdp-per-capita-maddison-2... * warning: logarithmic scale!