Globalization Backlash

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.