Limiting migration from poor countries to richer ones threatens to put a stop to the present free movement of capital and goods
The world's first wave of economic globalization, led by the British Empire in the 19th century, came to an end literally with a bang on a Sunday afternoon in 1914, when Gavrilo Princip killed (with two uncannily well-aimed bullets) Austria's Archduke Franz Ferdinand. The years that followed witnessed pan-European carnage, instability throughout the 1920's and the rise of fascism and communism, culminating in the death of countless millions during World War II.
Is today's globalizing era also coming to an end? If so, it may not necessarily end with a repeat of the slaughter of the last century, but with an economic retrenchment that brings economic stagnation and consigns billions of people to grinding poverty.
See full Article.
Posts
