Globalization Is Good

The US has been a major driver behind globalization of trade, and either Barack Obama or John McCain will preside over the next phase. Peter Mandelson, EU trade commissioner lays out the challenges for the next US president and offers advice: The global economy is no longer based on a powerful center, inequality within a society matters as much as inequality between countries, and trade contributes to stability and prosperity. “The US and Europe should recognise that in an interdependent world, they have nothing to gain from a stalling of growth in the developing world,” writes Mandelson. “Instead they should focus on renewing the global institutions needed to hold this new mix of states together through difficult debates on climate change, energy security and trade.” International connections, resisted by the politics of fear or comparison, are needed more than ever before. He urges that US leaders make globalization part of the solution for climate change, alternative energy development, food shortages and other major global challenges. – YaleGlobal