How to preserve the benefits of globalization

 Globalization has its benefits and shortfalls.

The shortfalls, which have not been adequately recognized and addressed over the past three decades, have resulted in a massive reaction by ordinary people in developed countries who were badly affected by globalization through a loss of jobs.

Many countries have started to de-globalized. This will lead to disruption to the supply chains and possible conflicts between nations.

There is still a chance to preserve globalization, but still protect jobs in developed countries. It will allow international trade to continue in an orderly and beneficial way (but not like before).

This approach is to allow countries to levy import tariffs and provide subsidies to their domestic manufacturers to remain competitive.

It requires the World Trade Organization (WTO) to update their existing regulations.

I explain my concept here.

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