G20 tries to fight back against Trump and Populism in a new report by saying globalism is the key to individual prosperity
By Ken Schortgen
ShotgunEconomics.com
10/14/2018
If you thought that President Trump’s war on globalism was going to be easy, you were certainly very mistaken. Because if within human nature a strung out thug on the street would be willing to kill for less than $5, what do you think the Establishment would be willing to do when trillions of dollars are on the line?
Needless to say, the current climate of populism and nationalism is scaring the Establishment to the core, as nations like Italy threaten to tear down the European Union, and individuals like Donald Trump work towards tearing down their plans for a one world government. And thus we have seen a growing amount of rhetoric emerge from individuals like Jean-Claude Junker and Christine Lagarde, and now institutions like the G20 as they attempt to save the current globalist system, and a tearing down of their ‘Deep State’ plans.
Wide-ranging reforms are needed to reset the global financial system and make it work amid turbulent times, an international panel of top economists and leaders said yesterday.
The Group of 20 (G-20) Eminent Persons Group on Global Financial Governance, in a report issued at the International Monetary Fund-World Bank annual meetings, underlined that the open and competitive world order of the past 70 years has lifted many out of poverty and fostered peace. But the system of international governance and cooperation that underpins it is fraying, and there is a real risk of drift into a fragmented world, in which all nations would end up losing, it said.
“There is no going back to the old multilateralism. There is no single conductor. There are already many more orchestras in play,” it added. “The world needs a new harmony.”
There must arise a new, cooperative international order that will help nations achieve stronger, more inclusive and more sustainable growth, the panel said. – Straits Times
Globalists love to tout how they, not pure unadulterated capitalism, have brought more people out of poverty than any other mechanism in history. But in reality they have done just the opposite, as seen from the results in Southern Europe following the 2008 Financial Crisis, and the effects of NAFTA to the United States as nearly all their manufacturing was shipped off to third world countries.
Globalism is about economic and political enslavement, not in providing freedom and betterment to the people. So it should not be surprising that the Establishment is doing all they can to try to stop the global populist movement in its tracks, before they potentially find themselves left out in the cold as their New World Order reverts back into an Older World Order.
Challenging global economic conditions, including a combination of low growth, a limited number of jobs, and rising inequality, are fueling the rise of nationalism and populism that are a threat to global cooperation, IMF Managing Director Christine Lagarde said in a speech at CGD.
