If the creation of the WTO in 1995 was the last clear victory for Globalization, the specific point of farthest advance was probably the inclusion of intellectual property inside the trade regime. No sooner was TRIPS in place than the backlash began.The most dependable of pro—Globalization economists were horrified. Why should coupon clipping be treated … Read more

Since 1950 world trade has multiplied — depending on whose numbers you use — between twelve- and twenty-two-fold. Worldwide foreign direct investment has grown fifteen-fold since 1970. For foreign directinvestment to developing countries, the multiple is twenty. The daily turnover in foreign exchange markets was $15 billion in 1973. Now it is over $1.5 trillion. … Read more