The Chinese aren’t alone in their dim view of globalization. In fact, a BBC poll (hat tip Dani Rodrik) found that a higher proportion of Chinese are unhappy about the pace of globalization than Americans. One of the nations least pleased with the speed of integration is Australia, another big beneficiary via a commodities boom.
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For those Chinese people, BBC should have added one more question: “Perception of Pace of Capitalism”.
The fact is that there is NO definition of “ownership” in Chinese law, as current law is derived from communism, where everything was owned by the communist party.
Then, suddenly, capitalism started. While mid-class didn’t understand what it meant, those “Elites” in the communist party *declared* the ownership of lands, factories, companies, houses, or funds.
From the start, there was huge inequality in Chinese capitalism, and rich people kept getting richer while migrant workers have been working like slave.
Now the inequality got worse than it used be when Japan invaded China.
Globalization? It’s not even an issue. China needs fair rules of ownership.
My Take
Blaming foreigners is always an easy one for people to accept.
Also, envy is natural (but wrong) although china is not alone where the politically connected (often the rich) do get the benefit of regulations and tax dollars.
Surprise, surprise- freedom is blamed for problems created by government.
But another wrinkle is that what people are calling free trade is nothing but. Does anybody really think NAFTA, an agreement of 3000 pages doesnt benefit one person/firm over another? Thats not free trade. Im guessing this same thing happens with all “free trade” agreements across the world.