Globalization Backlash

September 28, 2001 • Volume 11, Issue 33
Does free trade hurt people in the Third World?
By Brian Hansen

Introduction

Hands joined in solidarity, anti-globalization protesters in Washington, D.C., take part in demonstrations against World Bank and International Monetary Fund policies in April 2000.  (AFP Photo/Shawn Thew)
Hands joined in solidarity, anti-globalization protesters in Washington, D.C., take part in demonstrations against World Bank and International Monetary Fund policies in April 2000. (AFP Photo/Shawn Thew)

Last July, 150,000 protesters besieged the world economic summit in Genoa, Italy. The protesters contended that the free trade promoted by globalization is engendering poverty, inequality and environmental degradation on a global scale. Moreover, they said the wealth and prosperity generated by the World Bank and similar institutions mainly benefit multinational corporations, private-sector financiers and corrupt officials. Business leaders and free-trade advocates say that the protesters don't understand the complexities of globalization, and that nations that embrace open trade and investment policies have seen income rise and poverty decrease. Meanwhile, First Amendment advocates warn that tough law-enforcement responses to anti-globalization demonstrations trample protesters' civil liberties.

ISSUE TRACKER for Related Reports
World Trade
Apr. 2010  Evaluating Microfinance
Sep. 2009  Future of Globalization
Jul. 2009  Fixing Capitalism
May 18, 2007  Fair Trade Labeling
Sep. 28, 2001  Globalization Backlash
Jun. 09, 2000  World Trade
Jan. 29, 1999  International Monetary Fund
May 29, 1987  Third World Debt
Jun. 22, 1984  Bretton Woods Forty Years Later
Jan. 21, 1983  World Debt Crisis
Apr. 18, 1975  World Financing Under Stress
Sep. 08, 1971  World Money Crisis
Jul. 30, 1969  International Development Financing
Mar. 11, 1964  World Trade Parleys
May 23, 1962  Farm Products in World Trade
Apr. 27, 1945  Bretton Woods Agreements
Oct. 05, 1932  World Trade, Tariffs, and War Debts
BROWSE RELATED TOPICS:
Exports and Imports
Protest Movements
World Trade Organization (WTO)