Author and fund manager at Janus Capital Bill Gross says that Brexit marks “the end of globalization as we’ve known it.”
If he’s right, that’s a good thing, and a strong wake-up call to Thomas Freidman and his ardent free trade supporters who are “flatists” and resist those who question their orthodoxy.
A July edition of Bloomberg BusinessWeek says Bill Gross is right about the end of globalization, in a sense. Many Americans have been predicting the same thing for years. After all, the United States ushered in globalization on the thinking that trade inter-dependence would result in greater peace and partnership among nations, giving us greater influence around the world. I guess that means if only we had bought more Yugos in the 1980s, we would have had better ties and foreign influence with Yugoslavia. I doubt it.