What Populism Gets Wrong About Globalization

The video explores the relationship between globalization and the rise of populism, highlighting how economic changes and wage disparities contribute to populist sentiments. It discusses the impact of globalization on income inequality, particularly in the US and UK, and examines trade deficits, focusing on US-China relations and trade agreements like RCEP and TPP. The video also addresses Brexit's implications for global supply chains, emphasizing the need for updated trade policies.

What is one of the main reasons people feel anxious about globalization according to the discussion?

• The rapid advancement of technology

• The rise of new political parties

• The increase in global travel

• The uncertainty of job security across sectors

How have wage differences between emerging markets and rich countries contributed to populism?

• By reducing the cost of living in emerging markets

• By creating a sense of unfairness due to technology use

• By promoting cultural exchange

• By increasing job opportunities in rich countries

What role did the social welfare state play in the past regarding globalization?

• It restricted international trade

• It increased taxes on global companies

• It provided means for citizens to benefit from globalization

• It hindered globalization efforts

What is RCEP, as discussed in the video?

• A European Union trade policy

• A United States trade initiative

• A Chinese-led trade agreement with less depth than TPP

• A deep trade agreement with extensive intellectual property rights

How does the video describe the impact of trade deficits on the United States?

• As a consequence of domestic spending exceeding savings

• As a benefit to the national economy

• As a temporary issue that will resolve itself

• As a result of international trade agreements

What is a key challenge for the UK government in the context of Brexit and global supply chains?

• Increasing tariffs on European goods

• Expanding the service sector

• Understanding the modern nature of interconnected supply chains

• Reducing immigration from non-EU countries

What is a potential consequence of Brexit on British competitiveness according to the discussion?

• Improved trade relations with the EU

• Increased wages in the service sector

• Lower wages in competitive industries

• Higher tariffs on British goods