(Bloomberg) — Terms like “globalization” and “globalists” have become dirty words to some politicians in recent years. But what is really at stake if the U.S. attempts to further isolate itself from the rest of world’s economy?
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Adam Posen, president of the Peterson Institute for International Economics think tank in Washington, believes it means America will fall further behind the rest of the world in important economic categories. Posen joined the “What Goes Up” podcast to discuss the backlash to globalization, and how Russia’s invasion of Ukraine is further fracturing the global economy. Below are lightly edited and condensed highlights of the conversation. Click here to listen to the whole podcast, and subscribe on Apple Podcasts or wherever you listen.
Q: I was thinking back to the 1970s and ‘80s and there was a major pushback to globalization back then. Japan was emerging as a major manufacturing…