The scientific, technological, and mass communications revolutions facilitated globalization and the creation of far-flung production chains. Everywhere it has led to extreme wealth concentration, industry oligopolies, and attacks on workers and collective bargaining rights, democracy, and national sovereignty. Globally, the result was a race to the bottom for the working class and the widening gap between the North and South, between developed capitalist and developing economies. It originated with the extreme right to undo the New Deal gains won by the multi-racial working class and the broad democratic movements and to increase already swollen profits.ĭomestically, the result was deregulation, privatization, and austerity. Neoliberalism is the current set of economic policies defining globalization. Here, a picture of President Trump is displayed on a computer on the floor of the New York Stock Exchange in New York, Dec.
economic dominance of the world capitalist economy is increasingly challenged, but the Trump administration is out to halt the trend. The dynamics of globalization are shifting. in the first place, defined the globalization process unchallenged. Until recently, the leading capitalist powers, with the U.S. Globalization of markets, investment, and production are inherent to capitalist development. The struggle against them must be interconnected and global. Achieving global peace, sustainable development, and equality requires a united intervention by the global working class, its allies, and all democratic forces and the adoption of a non-capitalist path of development.Ĭapitalism is a global system, and the threats are interconnected and global. The global capitalist system has created unsustainable contradictions and crises which it and the dominant 1% can’t resolve. People and planet are at a crossroads: Humanity faces existential threats from the climate and ecological crises and militarization and nuclear war.Įnvironmental, economic, and societal disruption on an unprecedented scale will have to be decisively dealt with over the next few decades to avoid catastrophic consequences. Here, the I-90 and Highway 212 intersection floods as the Little Bighorn River covers roads, homes, and fields near Crow Agency, Mont. Planet and people are at a crossroads, and the extreme weather of climate change is only one of many challenges that require a new approach.
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