UK Construction team briefing on SSE Generation Limited v. Hochtief Solutions AG and another. Kirsti Olson and Sarah Alexander describe a case in which the
Has globalization backfired for the west?
No, but it has been very poorly implemented by elected western governments.
Here are some of the problems:
- Western governments did not have effective training programs to replace and retrain workers which were displaced when their manufacturing jobs were exported;
- Western governments and societies did not foresee the degree of displacement created by the combination of technology and globalization, and this led to the rise of extremist voter sentiment in the form of Brexit in the UK and the election of Trump in the US;
- In spite of democracy, governments in the west have been dominated by the financial sector and the leading universities; this has led to a kind of elitist tunnel vision, which gave rise to a “burn the house down” mentality, in the form of Brexit and Trump;
- A rising rich/poor gap has led to social instability which has not yet reached its logical culmination.