The Covid 19 pandemic is the second major crisis of globalization in a decade. The first was the global financial crisis of 2008-2009, from which the global economy took years to reach a semblance of recovery. We did not learn our lessons from the first, and this is perhaps why the impact of the second has been even more massive. Trillions of dollars of paper wealth went up in smoke during the 2008 crisis, but few cried for the out-of-control financial players who had triggered the crisis. … [Read more...]
Walden Bello is the author of Deglobalization: Ideas for a New World Economy (London: Zed, 2000) and many other books. He is also the Adjunct Professor of Sociology at the State University of New York at Binghamton and senior analyst at the Bangkok-based Focus on the Global South.