Asymmetric globalization: global markets require good global politics

This paper documents a speech examining the two opposing views on the impact of globalisation on the poor and concludes that globalisation is not the cause, but neither is it the solution to world poverty and inequality. The speaker argues that the globalisation debate boils down to a debate about the current distribution of economic and political power, and the question of whether the outcome of that distribution of power is just or fair.

The paper then explores why and how the global economy is stacked against the poor, making globalisation asymmetric, at least up to now. It concludes with some ideas about a new agenda of good global politics, an agenda to shape a future global economy and society that is less poor and less unequal -- not only because it is more global and competitive, but also because it is more fair and more politically representative.

Proponents of market-led globalisation need to recognize that the global economy, even if it is not causing more poverty and inequality, is not addressing those global problems either, and is ridden with asymmetries that add up to unequal opportunities. On the other hand, social activists need to insist on the reform not the dismantling of the limited institutions for managing globalisations downside. Both groups need to join forces in pushing a new global agenda, aiming for a new global politics to accompany the global economy. They need to focus on the good political arts – of arguing, persuading, compromising and cooperating in collective action for the commonweal.