The anger at CCP & the vow of & #39;never forget& #39; is predictable & even understandable. This crisis has laid bare the dire consequences of complacency & incompetency in many parts of the neoliberal world, which not long ago had been the most ardent promoters of economic liberalisation https://twitter.com/PradeepKTaneja/status/1246220480698179584">https://twitter.com/PradeepKT...
The neoliberal agenda has got rid of industrial policy & touted the virtue of free trade & comparative advantage, all the while weakening social safety net for the poor and neglecting nation-building. All is well, we& #39;re told. Share markets were booming, and the rich get richer.
It& #39;s thus disingenuous for US & Australian politicians now to & #39;suddenly& #39; find out global supply chains not working in their favor. Those govts, along with IMF, World Bank, WTO & TNCs are champions of outsourcing and offshoring. Should we never forget who killed Oz& #39;s car industry?
Do we still remember Summers memo? "Just between you and me, shouldn& #39;t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Least Developed Countries]? I can think of three reasons", thus wrote World Bank chief economist, later US Treasury Secretary.
On a political front, we have been led to genuinely believe liberal demoracy and individualist human rights are all that matters. These are cure-all and our best strengths, frequently used to name and shame other & #39;regimes& #39; and cultures, who can never get anything right.