The Economic Nationalist

William Hawkins writes today in the Washington Times,

Release of International Monetary Fund economic growth projections for 2007 set off a rash of misleading headlines. Many claimed that because China will lead the world with a national gross domestic product growth of 11.2 percent, it is the “engine of the global economy.” This implies what is happening in China benefits the rest of the world, when in fact it is really only empowering China. Its impact on other countries is problematic.

The “global economy” is not based on the “harmony of interests” once envisioned by 19th century classical liberals, but on cut-throat competition. Winners and losers in these commercial contests impact the national societies in which they operate. Where factories and research labs are located, where high-skilled jobs and workers reside, where income is earned, spent and invested and where education and enterprise are fostered make all the difference in the world. There is no world community in any meaningful sense. Energetic nations rise, complacent ones decline. If globalization is anything more than a catch phrase, it means the age-old struggle for wealth and power is now waged worldwide. It matters more than ever who comes out ahead.

The article brings little, perhaps, that regular readers of The Economic Nationalist do not already know, but it is cogently written and is noteworthy because of the special significance of the conservative newspaper in which it appears. It is recommended to click and follow the link.

HJH

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