Is Globalization Over? | What's Next For The U.S. Economy 

What do you think about the future of globalization and trade? Do you agree or disagree with the experts in the video? Is there someone else you’d like us to interview for What’s Next? Subscribe to CNBC and let us know what you think in the comments below.

It's just a battle between which interviewee has more books in the background

American Worker: Globalization over. Job come back? American Corporation: Robot worker go burrrrrrrrr.

So we printed money and traded it for real produces...im surprised it went on this long!

Probably not since I'm writing this, in Sweden, on a US designed phone, made in China. Gotta have hope for the future

I don't see less globalization, it may shift to different countries and maybe more diverse, but no way developed countries will bring industry back, the costs and consumers won't accept it. We are used to the high standard of living we enjoy due to globalization

too many economists, not enough manufacturing engineers. the big market for components that shenzhen is just doesnt exist anywhere else yet unfortunately

We’re following the same, identical game plan as ancient Rome, just before it ultimately collapsed from within. Let us count the ways, shall we? Rome was built on two things. War, and slavery. In fact, they invented the term, “Pre-emptive War,” which means attacking all of your neighbors with the excuse that they might attack you first. To finance these unending wars, they nearly taxed all of their global citizens to death, while the wealthiest among them called themselves “senators,” and governed their entire empire for personal ego, wealth, and power. Using their conquered countries as slave labor, their industries made themselves more wealthy than any time in ancient history. Soon, the citizens of Rome began to complain, so they plied them with what they called, “The Games,” bloody gladiatorial spectacles used to take their minds off how bad things were going, while they plied them with free wine and bread. But eventually their economy began to fail, due to widespread government corruption and internal mismanagement. Eventually, the same countries they used to control rose up to control THEM, becoming the new dominant world powers. Segue to today. America, once the heart of industrial might, sent all of our manufacturing to China, who uses their own people for slave labor. While making a few selected individuals wealthy beyond compare, it destroyed the entire US economic base. To replace this permanent loss of wealth, the US military began to invent endless wars of corporate profit in the Middle East, using already overburdened American citizen’s tax dollars to help finance these same continual wars. In order to placate the increasing discomfort of its citizens, they created televised sports like football, replacing gladiators with men wearing body armor and tossing a pigskin ball instead of a wielding a sword. Then, they began to even ply them with cheap beer, and hotdogs instead of bread. Then, when America’s economy began to ultimately fail, they began to send more of their young men, raised on hyper violent video games and US global rhetoric to fight in yet more ‘Pre-emptive Wars’ in order to keep their cash flow grinding out more dollars at the request of their senators while their citizens starve, ironically making China, the same country we once dominated, the next pre-imminent world power.

Corporations will decide. They have the power.

This is nonsense. You really think Americans want to make their own shoes or clothes?

Yeah, I don't think the rise of populism is about isolation, I think it is about making sure the people in your own country don't get forgotten in the quest for free market expansion. Also, America really wants to hold onto it's economic influence over China.

First thing you learn in Economics class: *Self-sufficiency is inefficiency and inefficiency is poverty*

As basic idea of economy is effective utilisation of limited resources to meet unlimited wants, Globalization is inevitable. We need to collaborate and cooperate more with each other rather than political game for Superpower. Sustainable growth is more important than hyper growths. COVID-19 could be just a beginning of waves of lot more pandemics to come. Who knows ?

Globalization is the essence of sustainable growth. Just like the FX market and crypto and stocks, their evolutionary state is all based on the effectiveness of globalization.

Soviet Union produced everything by itself, because they were so successful, Trump thinks we should do that too.

Its not Globalisation when China has the monopoly over manufacturing, countries need to diverse more, we saw in the early days of covid when china shuts down there was a shortage on face masks, medicine and ventilators. All of which could of been useful in the early days of the virus not to mention products of materials and equipment the help move other industries like construction and services which in my city is a big contributor of our economy

The main issue with Globalization is the concern Nations have with non-elected officals making decisions for the world welfare without having to face an electorate every 4-5 years. Gobalization currently is seen as very undemocratic concentration of power, which it is.

You can try to predict all you want but things arent as predictable as some "experts" say. Some companies will concentrate more locally and other companies will try their hand at expanding their brands internationally. Nothings gonna change that as long as making money and expanding is still viable.

What an Interesting time we live in !!

Adam Smith's three phases of capitalism: farming, industrial, service. There is no fourth phase. The system either evolves or dies.

This debate is not balanced. It seems like they invited people who are all for an unregulated globalisation. It's not about whether we want protectionism or globalization. It's about whether we want a more balanced globalisation and a protection of industries that we want to keep in the USA. The way globalisation was implemented since 1980, was to move thousands of factories from USA and Europe to developing countries. Because it was cheaper to produce products in China and Taiwan. We focus too much on profits and maximizing shareholders investment. But what about the working class? This policy caused American losing thousand of local jobs and factories for the benefit of corporations profits. So the question is, would you prefer a realistic industrial strategy about what type of productions we want to keep in the USA, a resilient local economy, with smaller carbon footprint? Then we have to implement protectionism on the industries that we want to keep in the USA. And for the industries that we are happy to keep in developing countries, we should allow free market. A balanced globalisation. Or would you prefer an angry working class which lost their jobs and which are turning to extreme ideologies? We need to turn the page of the failed ideology of neoliberalism which started to be implemented from 1980. It caused massive deregulations, a stagnation of the median wages of working class people for the last 40 years, a massive loss of quality jobs with industries moving outside USA, it caused a drastic reduction of taxes on wealthiest which prevented financing universal healthcare, schools and universities. As a result we have a massive inequalities and the rise of extremism. USA is the only developed country without an universal healthcare. It's that bad. We need a balanced capitalism. USA used to be a more balanced capitalism between 1940 and 1970. Capitalism doesn't have to be neoliberalism and an unregulated globalisation.

Good and informative video 👌👌👌 👍👍 Despite the economic crises now is the best time to make series of investment 📊

Most Americans don’t get out of their cars.

globalisation will only stall for a decade or so, but it will rise again. it's unstoppable. YT is a perfect example of how people all over the world can come together and share ideas and information instantly. regulation can only slow down its progress, but cannot stop it.

We can either have immigrant workers coming into America to work in the factories or robots to work in the factories because Americans cost too much to work in factories.

Title should be "let's support China...." 🤣

The future of America machines making other machines assembly lines producing other assembly lines. Humans not need it 100% unemployment.

Thank you for keeping adding eng subtitles

I was waiting for this to be discussed, THANKS :)!

The problem of US is not globalization but the lack of a better- and practical -way to distribute the gain of wealth without invoking ideology and animosity.

US Deglobalization vs. Tesla expending worldwide.

So much knowledge in a single video. Bravo..

We can be global with international harmonized environmental, health and labour laws. Plus, governments can give incentives and prioritize local and national products instead of punishing outside products. Glocal would be the best way to go.

What did globalization do to the United States, specifically small business owners?

I disagree, I predict everything goes back to normal in terms of contact

Robert Reich saying globalization isn't zero sum while still continuing to promote the idea that wealth inequality is somewhat a result from a zero sum game shows his fallacies.

It’s my prediction that globalisation will become more exclusive, with democracies who value an international rules based order mixing away from reliance upon autocratic states and unreliable trading partners.

"Deglobalization" it's as reasonable as machinery working out from steam power rather than electricity or combustion. The economy is gonna change, no doubt about it... but is not gonna be like everyone producing their own stuff, we're too far into globalization to stop.

This is depends on the region. Asean region wants to join together even more.

Globalization is good but excessive globalization led only to massive income inequality around the world. Only the billionaires managed to benefit from globalization and neoliberalism while the working class is diminished.

I'm just coming to check the book background these days. Looks like things are tidy up a bit today.

Globalization was good while the Anglo-Saxons got the best part of it, nowadays the Anglo-Saxons cannot compete thus globalization is going down.

5:04 my thoughts exactly, that's really the bottom line and why I feel this talk of the end of globalization isn't very grounded.

I like Mohammed El-Erian's explanation that the world has the same concerns with China that the US does. China doesn't honor our copyright laws which are a huge issue for any future business.

First off... we are NOT at the end of globalization.. second .. that wouldn't be a bad thing to buy, and support your local community versus grease the wheels of multinational corporations.

Sounds similar to how Oil is managed politicaly

I think the biggest effect of covid will be proof that working from home is effective. That mean great globalisation of service sector why pay an expensive employee in new York when you can get an indian/phillipine/African for a tenth the cost.

In my opinion, globalisation will evolve and adapt to uncertain situation such as these and take a new form that will further the benefit of global economy in a very positive way.

The last man talking made all the sense!

Nothing like a hunch of rich people telling me why I'm better off because of globalization....

Starts to watch the video, sees the likes of Krugman, stops video.

I think it’s temporary.

Thanks a lot CNBC you are my favorite channel ever

Next step for Global Economy is called Índia! That's what the ocidental leaders should've done decades ago.

You should read "The Accidental Superpower", " The Absent Superpower" and "Disunited Nations" by Peter Zeihan.

They might be able to reduce globalisation but they cannot stop it, and eventually economics dictates that there will be MORE globalisation to increase profits.

Remember Reich touted NAFTA and promised "all boats would rise together." It didn't happen and the American industrial working class subsequently was screwed out of their jobs which had enabled them to have middle class living standards and fuel the national "consumer" economy. Cheap goods at Walmart didn't compensate for what they lost, so efficiency and higher living standards for whom?

If you can print hard currencies like US dollars and Euros, of course, there will be globalization. LOL.

Dude, the world is over. Pack your bags.

Yea economists can never agree on fundamental

Regarding increased manufacturing costs in China...the Chinese, read CCP, were so consumed with profitability to build it's military capabilities, failed to learn from the past of other nations, and totally disregarded the human and environmental costs of unregulated growth. Only after entire rivers were made barren and millions of workers became ill due to exposure to toxins, did the CCP realize their error. The concern was not really environmental or humanitarian, but the cost of wasted landscapes and waterways and the medical bills of those made sick. They increased costs of goods because they needed money to cleanup the land and water and care for those workers made sick. So, the former low costs weren't real.

South America, Central America and North America. Problem Solved.

Developing countries are just signs that the developled ones want even more

Standard and cost of living needs to drop to enable local production. No more living above our means.

If whole sectors are moved offshore or a disproportionate percentage of all manufacture is moved to one particular country then Globalisation is a total misnomer. The motivation for Globalisation is not the elevation of developing economies , that's a line straight out of the marketing department , it's market penetration and profit margins. Globalisation in it's current guise is merely the transfer of power , not the redistribution . As such the demise of its version 1.0 should be warmly received.

When you say that globalisation is a win2win game, i stop listening.

*OK... then the US isolate by itself 🤣🤣*

Great video

Its about the quality of goods.

why cant we all jus b friends and business partners... 😭

Whatever happens the whole system needs to become sustainable environmentally, or climate change will force it to happen, and it won’t be nice.

Less consumer, less commerce or none at all, less trash or garbage. Earth will be one big hive.

It is even stupid to think that globalization will end. Human beings are now even talking about traveling to Mars and other planets but some people are thinking that globalization will end on earth.

Many of us have advocated Fair trade replace Free trade for years. We saw the free trade slow train wreck coming.

*Many many other countries have aggrievance against the US too: Canadians Steel, German Cars, European Airbuses... to name a few.*

Let’s see how well this ages

We have moved too far into an extreme without regard to human rights or the environment & without a safety net. To say "Is globalization over?" is sensationist, when we are merely moving back to the middle.

The rich stay rich by investing like and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

Clueless! Not one talking of trade deficits.

It is a simple accounting concept of Consolidation! For example, Toyota has factories in the US. Hires US workers to do the work of making vehicles. At the end of year, profits will be stated in a Consolidated Finance Statement where the profits will be "wired" back to Tokyo because Japan is where the headquarter is, and the stock is listed on the Tokyo Stock Exchange. What can anyone do to prevent that from happening?

US dollar stores will be $100 stores.

Globalization was killing us. I noticed within the past ten years a direct correlation between domestic discrimination and an increase in globalization. We will be stronger as a nation if we stop being a consumerism economy and put more people to work here at home in the US

Was not expecting a training video

@5.15 summed it up.

Good

Every system matures and then it starts to show edges. Globalization has reached such a point, it has to reduce to some degree.

Globalization on what cost ? Cheap products , cheap and forced labor, pollution to the point that 60% of all animals died out last 50 years. Economist only talks about how to produce more money but anything else doesn't matter.

What is globalisation and has it really ever been considered to be inevitable? I would ask how has this reflected upon offering wider solutions to landlocked nations which are mostly in the middle east and Africa supporting their economies?

The Republicans should be an end sum party-- GONE with the hurricanes.

The global economy is not a zero sum game. We need capitalism and liberty in more places, not fewer.

I just don't know where these people think this endless supply of money will keep coming from for poorer Americans to spend and keep driving the machine. I'm running on pennies anymore and this year's made it so much worse for me, and my family.

A reversal in globalisation will hit the poor hardest as far as access to cheap products are concerned as also jobs in the export sector. Globalisation has been a great help in lifting a lot of people around the world from poverty and raising their living standards. Mass production techniques are more suitable to those countries where wages are lower and this has helped lower the cost of goods leading to an inevitable rationalisation in the employment sector. Rising protectionism will result in the skewing of prices and a polarisation of wealth both between countries and also individuals.

Having a trading plan is essential for every trader. Trading with Mrs Monroe's trading platform and understanding its unique premise could help you formulate better your own trading plan for the currency markets.

Paul Krugman is an absolute fool. Watch Jimmy Dore's newest video!

What is not often/or ever mentioned, is WWII was a catalyst for the U.S. in becoming the hegemony-thee undisputed superpower of the world. We here in America were fortunate to have had two massive oceans between us and the battle grounds of WWII, other than the Pearl Harbor hit, we didn’t suffer the catastrophic physical devastation like other western democracies/nations. WWII put us in the driver’s seat to dictate & we had to deliver economic rescue stimulus packages (with humongous strings attached of American interest) to those pulverized by war nations. Even after Hiroshima, Japan still had to swallow it’s pride, acquiesce and do business with us, by the rules that we set. So to end “Globalization” would essentially mean handing over the reigns of economic political global power to: Russia China Saudi Arabia Japan. And that would mean discarding 80 years of momentous global progress, would it not ? Isn’t the world, our customers ?

nope, the real problem is Washington DC has MADE manufactures in other country cheaper, so they don't manufacture anything but US dollar, while all other country just trade their goods with USD, which is not even benefitting common US citizens but those 1%

All about "care about china" ? Realy ? There are more econemys then the US an china

Even China is shipping manufacturing jobs to Africa and Southeast Asia, good luck shipping manufacturing jobs back to the States.

I like what the Nobel Laureate in Economics Ester Duflo said.

globalization...? Creates dependence. No thanks. Globalization has employed others in other countries who do not have the same value systems. Employment increases in these other countries have destroyed manufacturing in Detroit and in Ontario. The reality is, prices have not really dropped for the consumer but rather the profits of the companies who moved to China have increased. The savings have not really been passed on to the consumer. More jobs here means more money spent here