DAVOS: Princeton Historian - When Globalisers Lost Their Nerve - The Current Malaise Of Globalisation Relates To A Growing Sense Of Internal Paralysis In The Major Industrial Countries And The Sense That Power Politics Have Returned, Says Harold James.

Banker, The, January, 2007

Byline: HAROLD JAMES

In the 1990s, globalisation was a red rag for intellectually disaffected bulls, but no-one else was too excited. Today, the big ideological debates about globalisation are over. The massive demonstrations that disrupted the 1999 World Trade Organization meetings in Seattle, or the 2001 Genoa summit, or the annual meetings of the World Bank and the International Monetary Fund (IMF) or of the Davos World Economic Forum seem to belong to a distant past. Many former critics now see at least some advantages to globalisation.

Globalisation also seems today to be quite robust. It easily survived the shock of the terrorist attacks of 9/11. There has been no repeat of the contagious emerging market crises of 1997-98. This resilience is...

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