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The Liberal World Order and the Job-Offshoring Backlash—In Structuralist Perspective

Author

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  • Terutomo Ozawa

    (Emeritus Professor of Economics, Colorado State University, Fort Collins, CO 80523, USA; Research Associate, Center on Japanese Economy and Business, Columbia Business School, New York, N.Y. 10027, U.S.A)

Abstract

Many factors have contributed to the current wave of anti-globalization sentiments in the advanced world. This paper focuses on one of such factors, MNEs’ job-offshoring through their overseas networks of operation and its impact on the US working class. To this end, the “ladder of economic development a la Schumpeter” is presented as an analytical model from a structuralist point of view. Within this framework, the relations of innovation-driven structural change, transmigration of industries from more advanced to emerging economies at the hands of MNEs, and the globalization-afflicted working class and communities in the US are examined as closely intertwined, co-evolutionary phenomena. Four MNE-related sources of globalization angst and social costs are then discussed. The paper concludes with a much-needed analysis of the economic rationales for President Trump’s “if you sell here, produce here” jawboning on MNEs.

Suggested Citation

  • Terutomo Ozawa, 2018. "The Liberal World Order and the Job-Offshoring Backlash—In Structuralist Perspective," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 18(3), pages 1-11, September.
    • Handle: RePEc:wsi:gejxxx:v:18:y:2018:i:03:n:gej-2018-0026
    DOI: 10.1142/GEJ-2018-0026
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    Cited by:

    1. Terutomo Ozawa, 2019. "A note on Dani Rodrik, “Populism and the economics of globalization”," Journal of International Business Policy, Palgrave Macmillan, vol. 2(2), pages 182-193, June.

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