cover A  B ‘Globalization is irreversible and irresistible.’ T B This book gives the lie to that claim. Greg Buckman argues that economic globalization has never been an inevitable part of human history. This is persuasively articulated in the first half of the book, where a readable and readily comprehensible overview is provided of how globalization came about. Globalization is eminently reversible and hugely resistible – as Buckman shows in the second half of the book, where he introduces and explains the alternatives of the anti-globalization movement. Buckman argues there are two broad policy approaches within the anti-globalization movement. One, perhaps the most widely supported and influential strand today, he calls the Fair Trade/ Back-to-Bretton-Woods school. This is a moderate school that argues for immediate reform of the world’s trading system, capi- tal markets and global institutions, notably the World Bank, IMF and WTO. The other school, an equally broad church, advocates Localization, taking a more radical root-and-branch position that argues for the abolition of these institutions and an outright winding back of economic globalization. Buckman explains the details of each school’s outlook and proposals, the criticisms that can be made of them, where they disagree among themselves, and – perhaps most importantly – where they share common ground and can come together in their campaigning. This book attempts to give an informed hope to those dedicated to resisting and reversing economic globalization, a hope based on real and viable positive alternatives. C P   B ‘So refreshing and useful to read a book that goes beyond the usual bleatings about the problems of globalization in order to analyse in detail the alternatives that are at last emerging.’ C H, author of Localization: A Global Manifesto ‘Greg Buckman has done the global justice movement a valuable service in clearly outlining the major debates around taming versus scrapping globalization, and then attempting to find common ground. I urge everyone who wants a fairer, safer and more sustainable world to read this book.’ R D MP, Co-leader, Green Party of Aotearoa New Zealand ‘Greg Buckman’s work opens up the all-important debate between the ideas of localization and fair trade, on the one hand, and economic globalization, on the other.’ S B B, leader of the Australian Greens ‘The clearest and most succinct explanation of the origins and processes of economic globalization yet to appear in English, plus the best coverage of the debates over what to do about it. A useful tool for anti-globalization activists everywhere.’ C D G: T I  S I? Mapping the Alternatives of the Anti-globalization Movement   University Press Dhaka White Lotus Bangkok Fernwood Publishing Nova Scotia Books for Change Bangalore SIRD Kuala Lumpur David Philip Cape Town ZED BOOKS London & New York Globalization: Tame It or Scrap It? was first published in  by In Bangladesh: The University Press Ltd, Red Crescent Building,  Motijheel C/A, PO Box , Dhaka  In Burma, Cambodia, Laos, Thailand and Vietnam: White Lotus Co. Ltd, GPO Box , Bangkok , Thailand In Canada: Fernwood Publishing Ltd,  St Margaret’s Bay Road (Hwy ) Site , Box , Black Point, Nova Scotia,  B In India: Books for Change,  Richmond Road, Bangalore   In Malaysia: Strategic Information Research Development (SIRD), No. /, Petaling Jaya,  Selangor In Southern Africa: David Philip (an imprint of New Africa Books),  Garfield Road, Claremont , South Africa In the rest of the world: Zed Books Ltd,  Cynthia Street, London  , , and Room ,  Fifth Avenue, New York,  ,  www.zedbooks.co.uk Copyright © Greg Buckman  The right of Greg Buckman to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act,  Designed and typeset in Monotype Bembo by Illuminati, Grosmont Cover designed by Andrew Corbett Printed and bound in the EU by Cox & Wyman, Reading Distributed in the USA exclusively by Palgrave Macmillan, a division of St Martin’s Press, LLC,  Fifth Avenue, New York,   All rights reserved A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data available Canadian CIP data is available from the National Library of Canada      Pb (Canada)      Pb (India)      Pb (Malaysia)      Pb (Southern Africa)      Hb (Zed Books)      Pb (Zed Books) C   T E  C  E G   Introduction    The Evolution of the Global Supermarket (A History of World Trade)  World trade in the nineteenth century  World trade in the twentieth century  World trade after the Second World War  The shocks of the s  Causes of the spread of world trade    The Evolution of the Global Bank (A History of World Capital Flows)  Pre-Industrial Revolution global finance  The influence of the Industrial Revolution  The emergence of the gold standard  The First World War and the inter-war years  The Bretton Woods twins  The world economic order from the s to the s  The shocks of the s  Today’s casino economy    The Engines of Globalization  Transnational corporations  The World Trade Organization  The International Monetary Fund and the World Bank  The Washington Consensus  The technological engines of globalization  The environmental price of world trade    Rich versus Poor in the Global Economy  The polarization of global wealth  Concentration of economic globalization around rich countries  Relative size of poor economies  The Third World debt crisis  Poor countries and global trade  Trade winners and losers  Poor-country raw material exports  Poor-country trade winners  Export-processing zones  Rich-country trade losers  Aid to the rescue?  Ecological debt    Rich-country Double Standards  Rich-country double standards on trade  Rich-country double standards on patents  Rich-country double standards on agricultural and textile trade    T P A   A- M   The Anti-globalization Movement  The global loss of democracy  The anti-globalization movement  Origins of the anti-globalization movement  The anti-globalization protests  Policy formulation by the anti-globalization movement  NGOs and non-mainstream parties    The Fair Trade/Back to Bretton Woods School  Trade  The future of the IMF, the World Bank and the WTO  Capital market and TNC regulation    The Localization School  Advocates of Localization  Trade  The future of the IMF, the World Bank and the WTO  Capital market and TNC regulation    Globaphobes versus Globaphiles  The Oxfam Rigged Rules report debate  Short-term versus long-term strategies  Corporate engagement  Rich-country versus poor-country anti-globalization organizations  Changing fashions within the anti-globalization movement  Policies that straddle both schools  Policies that stand outside the Localization/Fair Trade divide    Deficiencies of Both Schools  Deficiencies in Fair Trade school policies  Deficiencies in Localization school policies  Deficiencies common to both schools    The Policy Future of the Anti-globalization Movement  Common ground between the two schools  Broader areas of agreement between the two schools  Potential areas of greater consistency between the two schools  The general policy future of the anti-globalization movement    Conclusion  Useful Globalization Websites  Suggested Reading  Index  L  T, F  B Box . Timeline of global trade  Figure . Increase in world currency turnover  Box . Timeline of global capital flows  Box . Causes of modern economic globalization  Table . International trade negotiations held since World War II  Table . World’s largest companies  Figure . World fossil fuel emissions  Figure . Per capita incomes of world’s richest and poorest countries  Figure . Poor-country share of world manufacturing  Table . World’s largest economies  Figure . Third World and Eastern bloc foreign debt  Table . Aid given by top fifteen world donors  Figure . Growth of non-governmental organizations  Box . The Fair Trade/Back-to-Bretton Woods agenda  Box . The Localization school agenda 