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Max Damage Arcade Game. Dawn of the Bread. Big Break - Scratch Card. Jack and the Beanstalk. Countries also need to do more to ensure that those being left behind by the forces of globalization are provided with things like a sustainable social safety net and a minimum wage to prevent them from falling further.
Most of all, states need to invest in education so that as few people as possible fall victim to structural change. But that will require the kind of money that corporations are currently denying governments.
That's why preventing tax evasion will be one of the most important tasks in the coming years. US economist and Nobel Laureate Joseph Stiglitz has even called for the elimination of tax havens and for the European Union and the United States to apply a minimum tax rate of 15 to 20 percent to all multinational companies.
The idea sounds revolutionary in its simplicity. It's about shifting the burden of proof: Companies would be forced to prove that they did, in fact, pay reasonable taxes on their profits.
Otherwise, they would have to pay tax in a different country. The implementation of this idea, though, will remain a utopian fantasy as long as individual countries continue to pursue their own interests.
Washington does, of course, want to see companies like Apple and Google pay more taxes, but back at home in the US.
In the era of digitalization, it is also almost impossible to determine where the money for many products was actually earned -- and thus, where the taxes should be paid.
A tightening of competition law, as complicated as that might be in the era of globalization and digitalization, is likewise necessary. Small Internet and pharmaceutical companies are often swallowed by large conglomerates, sometimes even for prices in the lower double-digit billions, before they have the chance to become any kind of threat to these bigger firms.
The cartel authorities often have their hands tied when it comes to developments like the acquisition of WhatsApp by Facebook or LinkedIn by Microsoft because cartel law is frequently still based on old world paradigms whereby the leading factor is the size of revenues generated by a company.
On both the issue of taxation and competition, the EU and the US appear to be irreconcilable antagonists. American politicians accuse Europeans of trying to protect their uncompetitive Internet economy using illegal means.
Meanwhile, EU politicians counter that the United States is weakening the ability of European companies to compete in the form of draconian fines of the kind imposed on VW in the Dieselgate scandal and that currently threaten Deutsche Bank.
Europeans view these developments as acts of revenge tied to the procedures taken against Apple and Google and as harbingers of a possible trade war.
He argues there should be something like a secretary-general for the global economy. Unfortunately, that's a pipe dream. Organizations are already in place like the International Monetary Fund, in which each country can represent its individual interests.
And there are also regular meetings of the G-7 and the G member states that seldom deliver anything beyond non-binding exchanges of views.
What's missing are global mechanisms "for getting a handle on global problems," says William White. The problem, for example, that the central banks lower interest rates and, by doing so, shore up their own economies at the expense of their competitors.
It was aimed at creating a system of fixed exchange rates pegged to the dollar to ensure stability and prevent extreme imbalances in the global economy and to prevent competitive devaluations.
These are precisely the problems the global economy is struggling with today. Back then, the international community agreed to a solution.
Today, though, we once again find ourselves with a need for strong global institutions and global rules. We need a little more globalization in order to preserve the positive forces it represents and to eliminate the drawbacks.
Otherwise the negative forces may gain the upper hand and we may find ourselves one day reflecting back to and asking ourselves: Who could have imagined in that something like this would happen?
Central Banks Open the Spigots Part 3: The Growing Threat of Monopolies Part 5: Discuss this issue with other readers! Show all comments Page 1.
I take issue with how you assume globalisation and free trade go hand-in-hand. Countries with high growth rates, e.
Their import tariffs are higher, especially in [ Their import tariffs are higher, especially in sectors where they perceive growth opportunities. Free trade is only advantageous if 1 everybody plays ball and 2 you are market dominant and do not need to grow domestic industry.
You seem to believe that globalisation is some kind of natural phenomenon. In fact, it largely exists because of effective subsidies.
To give just two examples. We heavily tax local transport for environmental reasons, but we do not tax global transport. Lastly, we turn a blind eye to the army of slave labour made up of political prisoners in China, yet we marvel at their low unit labour costs.
When an American Pesident says Frau Merkel has credibility, he obviously does not do this without some sort of motive.
Whether this statement was a blatant lie, propaganda, or an antempt to intervene in the next German general [ Whether this statement was a blatant lie, propaganda, or an antempt to intervene in the next German general election may be a matter for discussion.
Whatever the case, Barack Obama is an extraordinary actor, who is able to depict properties which are not his own.
He received a peace prize in advance of actions, which he had promised, but never carried out. It would appear that despite all his speeches, about western values, he not ready to return the prize which he has not earned.
Trump may be less intelligent, but is open with his statements, even if many of us do not agree with what he says. The only values Obama and Merkel seem to know, are Dollar and Euro.
That is why they fear a division of industrial Nations. Honesty, morals and patriotism only play a role in western policies, when they can be used as a tool to yet more power.
Until governments around the world act responsibly and tackle the problems outlined in the article it is pointless to blame the electorates for attempting to find their own solutions.
At the moment we have governments of [ At the moment we have governments of whatever colour that have fallen for the neo-liberal economic idea and consequently offer no choice to the voters.
The result of this is obvious and, despite the handwringing of the main street media, the people will continue to search for a solution.
That the solutions they find, like Trump or Brexit, may be contradictory and may not provide the answers, they are nonetheless real and have a large effects.
If the world becomes protectionist then the blame will lie with all those who, instead of concentrating their efforts on solving the problems that globalisation has caused, are still trying to force more globalisation on populations that are clearly signalling that they have had enough.
USA Today just quoted Mrs.