Why are the world's economies pulling apart?

World capitalism in recent decades underwent a process often called ‘globalisation’. Competing national economies became more and more integrated and dependent on each other.

Now, the wheels have come off. Trade wars, political disputes, even rumblings of armed conflict - already happening, but exacerbated by the coronavirus pandemic - have marked a process of ‘deglobalisation’.

What is behind these two epoch-defining waves of change? Why are both responsible for worsening conditions for workers, young people and the poor? And is there a way to achieve global economic and political harmony?

This episode of Socialism looks at high and low tides for world capitalism: globalisation and deglobalisation.

Further listening and reading

Socialism 66. US imperialism in decline: https://soundcloud.com/socialismpodcast/66-us-imperialism-in-decline-coronavirus-trump-sanders-and-socialism

Socialism 70. China's new role: https://soundcloud.com/socialismpodcast/70-chinas-new-role

World Economy - the new crisis and its consequences: https://www.socialistworld.net/2020/03/19/world-economy-the-new-crisis-and-its-consequences/

New era of capitalist turmoil and social upheaval opens: https://www.socialistworld.net/2020/05/15/new-era-of-capitalist-turmoil-and-social-upheaval-opens-only-a-socialist-alternative-offers-a-way-forward/

What lies behind the US-China trade war? https://www.socialistworld.net/2019/05/24/what-lies-behind-the-us-china-trade-war/