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Jim O'Neill defends Globalisation

Graham Watson

19th January 2017

Jim O'Neill wins today's award for money-for-old rope with an article that defends globalisation. The only way that this differs from a good student defending the issue, is that by using the example of the Chilean economy which has grown despite its dependence upon copper exports, he's provided a specific case study to support the argument.

It would have been more interesting to argue that globalisation has also enabled resource-poor economies, like South Korea, to develop, although, admittedly, this is also due to the extent to which it benefitted from US aid, and, as Ha-Joon Chang argues, a willingness to resist pressures to adopt a purely free market approach to development.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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