The followers of the “Deglobalization”

By African Bulletin on June 9, 2011

The economic and financial crisis and especially the crisis of sovereign debt in both Europe and America were no doubt sufficient condition for the success of the “de-globalization” concept.

This concept seems to have a great influence on the debate in many countries and is supported by several authors and experts in economics, as well as by political currents. The concept is not new and goes back to the 2000s. It was then defended by some North and South American currents within the global justice movement, especially by the International Forum on Globalization (IFG). This current has totally rejected globalization and global governance principles. And it is preaching that all international economic organizations to be dismantled. His followers advocate a reassertion of local sovereignty, relocation of the economy, self-sufficiency and “democratic control” of the economy. Doing that calls for the reintroduction of capital control, a return to protectionism, a new regulation, and redistribution of income and land. This vision was first advocated to the South, seeking the revitalization of what was called in the 1960s and 1970s a self-reliant development and a policy of import substitution. So it’s not surprising to see that “de-globalization” advocates and allies to show strong support for alternative experiences conducted in some countries, particularly in Latin America. “De-globalization” is aiming to restore the political space lost with the opening of the borders. It is calling for targeted protectionism, capital control, and an autonomous monetary policy. While other currents seem to defend a common agenda, within a global scale, through a redistribution of wealth, a more regulated globalization and protection of common property after a reform of the global governance. Another emerging current is advocating a “globalization from below”, seems to federate more sympathizers and support, born in Spain and spreading its action throughout Europe.  It seems to be one of the best illustrations condemning the negative globalization spillovers.