Gee, terrorism threatens globalization? Meanwhile, let's compare prices.

[Deja Q]

http://www.bloomberg.com/apps/news?pid=20601087&sid=avDsyXp_q69M&refer=home

The world is benefiting from an ``unprecedented'' pace of global economic integration that may be constrained by protectionism and terrorism, Federal Reserve Chairman Ben S. Bernanke said. (article has more.)

Has it benefitted you?

``Social and political opposition to openness can be strong,'' Bernanke said in the text of his remarks. ``Much of it arises because changes in the pattern of production are likely to threaten the livelihoods of some workers and the profits of some firms.''

For "some firms" read "small businesses".

And they admit it does threaten peoples' livelihoods. :wow: So how does this tally with the talk of the world benefitting? I don't quite see the logic of how helping the world means many end up suffering...

I am not against globalization. But if they want to slice Americans' wages, they've got to make the price of goods match. Otherwise precious few are benefitting.


BONUS: China just dropped its cost of gas to 33 cents/litre. How much is gas where you live?

[mike_c]

1. that chinese report is from Feb. 2001....

Or am I missing something? Apologies in advance if I am.