Stay the Course

Recent developments in fellow Third World economies, particularly in Latin America, indicate a reaction setting in, a swing of the pendulum if you will, against globalization, what with the rise of left-leaning politicians in these countries. We should welcome this development with open arms, if not with glee, and encourage it to the utmost. Why so, you ask? Because, if nothing else, a widespread backlash against globalization would effectively reduce the number of economies receptive to foreign direct investment. In other words, it would effectively reduce our competition. One reason among others why growth has been relatively sluggish in the SEA region the past decade is that most of the world had seen the error of their ways during the 90s and have since been hewing strictly to economic orthodoxy. Though this doubtless makes the TNCs happy, it means more work for economies like us to compete in luring them. With our inability to get our political act together, our focus and performance have been spotty at best. So anything that could diminish the competition would be very welcome. We must thus do our utmost to encourage this new wave of socialist reaction, to the extent of encouraging these would-be Chavezes and latter-day Castros diplomatically, if discreetly. If possible, we must encourage our national democratic comrades to go abroad and help these neo-Sandinistas in their struggles against the running dogs of capitalism, preferably on a permanent basis. We must export our anti-globalization and anti-Davos types to foreign capitals, to foment the locals into rejecting WTO membership and picketing the TNC offices. If we succeed in this, a new Iron Curtain should soon descend in the different places we've targeted. And all we'd have to do then is just stay the orthodox economic course and wait for the capital to pour in.