There is an argument that there is a funadamental threat from protectionism and Boris seems to have a point here.
You may not be aware that world poverty has declined dramatically over the last decade or so ? But the situation has improved hugely - And apparently that decline is now slowing.
OK this is presented from the UK point of view - but there are important implications for ALL of us !
Overall it looks rather good.
Economists all around the world already proved that protectionism is a great treat for world development and economic growth, as tarrifs and fees in trading are slowing the turn-over of money and goods. However, if we analize the world history, we will see that people sometimes turn to protectionism, but for short time and then replace it with next step of globalization. Boris may speak what he want, but it’s the fact that the United Kingdom needs that deal with the European Union and it will be signed. It’s like the Brexit with no-deal, Johnson claimed that he’s ready to go on, but then asked for prolongation…
Examples please ? That seems counter-intuitive to me.
This was the huge hurdle that Winston Churchill faced in the early days of ww2, how could he persuade the USA to abandon it’s policy of protectionism that had begun after ww1.
Roosevelt was sympathetic but he knew the US public’s view was more onto isolationism - it’s not our war, it’s a European problem.
Roosevelt couldn’t get congress on his side so the best he could do was to ‘lend’ the UK the hardware to help.
Of course events overtook and Pearl Harbour proved that isolationism and protectionism in the modern world are difficult to defend.
Globalization is indeed a stepping process, whether it is for the good of mankind or just a mere result of our evolution and therefore unstoppable is another subject.
https://history.state.gov/milestones/1921-1936/protectionism
Edit; the ‘lending’ was known as the ‘Lend-Lease’ bill (spring 1941) was Roosevelt’s brilliant methodology in getting around:
Neutrality Acts of the 1930s - Wikipedia
Finally, today in my sales room I discussed products with a customer - all from one manufacturer - a Swedish company.
Their products varied in price, design and technology - and country of origin.
The more recognized product is made in the USA, a little less known in Poland, yet another, is as usual nowadays, in China.
I kept the last deliberately, my customer is English.
This particular product is a ‘Robot’, it has Artificial Intelligence, it is expensive and high tech.
‘So where in the world do you think this is made?’ I asked.
Only when I pointed to the little union jack did the penny drop - the power of globalization at work.
Treat or threat?
Interesting read here
https://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=2194
But it can be argued there are several threats
Endless worries.
If Johnson had a majority in parliament, that may have been possible, It was a hung parliament and there was no majority for brexit, let alone a no deal brexit. If it started now, with the parliamentary numbers he has, things could be very different. He was forced by parliament to ask for an extension, not his choice.
There’s much more chance of him being able to do what he says at the moment, and the EU will know that. Doesn’t mean a single country can get everything they want, but he has a stronger negotiating position since the general election.
According to me, there are several things that we need to be aware of in the forex market. Firstly, there are money looters who call themselves brokers, but in real sense, they are thieves. We should be very careful so that we may never be lured by them. Several people have been tricked such people and we should now be aware.
I think there are people who have been destroying for the forex market traders. They tend to make the market unsafe for the beginners hence they lose alot of money. It is time that we should make the beginners aware of these people before they join. This is because, we have hard such cases and we mighy lose the new members joining.