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The coronavirus that has seeped out of China, insinuating itself into at least 81 countries while killing more than 3, people, has effectively accelerated and intensified the pushback to global connection. It has sown chaos in the global supply chain that links factories across borders and oceans, enabling plants that produce finished products to draw parts, components and raw materials from around the world. Many companies are now seeking alternative suppliers in countries that appear less vulnerable to disruption.

It has confined millions of people to their communities and even inside their homes, giving them time to ponder whether globalization was really such a great idea. By Mr. From the worldwide financial crisis of to climate change, ordinary people have concluded that the authorities cannot be trusted to keep them secure. That has allowed politicians to attack legitimate problems with simplistic solutions, like trade protectionism and armored borders.

Now the coronavirus scare has aggravated the trend. Goldin said. Globalization is far from over. The commercial links that produce the goods of the modern age, from computers to automobiles, involve so many people coordinating so many processes that a purely localized form of industry now seems unimaginable on a mass scale. The coronavirus itself does not respect borders, requiring international coordination, a process facilitated by the infrastructure of globalization. But as surgical masks become desperately desired items, as schools from Japan to Ireland sit closed, as airlines scrap flights, trade shows are canceled and stock markets plunge , annihilating trillions of dollars in wealth, the panic seems likely to alter the contours of globalization.

The most obvious impact is on trade. In Mr. The trade war has failed to produce the promised jobs, instead yielding a manufacturing slowdown in the United States. Some multinational companies have moved factory production away from China, shifting work to Vietnam , Bangladesh and Mexico. Trump administration officials have taken the coronavirus outbreak as the impetus to reinforce their pressure on companies to leave China.

Last week, Mr. Many in the manufacturing world dismiss such talk as politics masquerading as economic policy. No matter what happens, Americans are unlikely to find themselves sitting in large numbers behind sewing machines stitching up clothing or hovering over assembly lines as they fit electronics into circuit boards. But a marginal shift of work from Chinese factories to those in other low-wage nations is likely to accelerate.

Economists broadly assume that shortages of parts will crop up in coming weeks and months, after inventories are exhausted. Manufacturers in India and Japan rely on China for 60 percent of their imported electronics components, according to Fitch Ratings. American manufacturers buy roughly half of their imported electronics parts from China.

Nissan cited parts shortages in ceasing production in Japan. Nintendo faces delays in delivering its popular gaming console, the Switch, to customers in the United States and Europe, because a factory that makes the devices in Vietnam has been unable to secure critical parts from China. Are there any articles in there that you particularly want to highlight as illustrating something important about Brexit?

There are some interesting ones on what caused the Leave vote, from an economic perspective. To what extent was it immigration? To what extent was it economic decline? She is very much a believer that technological and globalisation have, on the whole, improved our economic outcomes. But she also feels—very strongly—that the policy response, in the 80s and 90s, to deindustrialisation in the parts of the UK that were left behind by globalisation, was very badly lacking.

Richard Baldwin is also a very eminent trade economist. Their moment has now come. Trade economics is back in fashion. The important thing that comes from looking at all their chapters together is the extent to which free trade is not just about abolishing tariffs. There are a number of different aspects to that. First of all, even trade in goods is much more influenced by regulation than it used to be.

Cars are the classic example. Parts shuffle back and forth across borders before being assembled. Regulation matters a lot: We have emissions standards, safety standards, and all the rest of it. Then, when you get to trade in services and movement of capital, and the role of the City, things get even more complicated.

Just the sheer complexity of the issues that are involved both in reshaping our trade relationship with the EU, and in working out what our relationships with other countries in the future will be, is just fascinating. And getting all sorts of people up to speed on these complexities is going to be expensive.

This is a blog post by Dominic Cummings , who was the campaign director of Vote Leave. What I really like about this is that, in contrast to Dan Hannan, Dominic is very frank and honest. What does that even mean? Is that going to work? And I do think that there was a contrast with the Remain campaign which was very old-fashioned and did not apply this sort of rigour in analysis that Dominic and his team did. Having read the blog post, his overall conclusion seems to be that there were two things that won it for them.

Those seemed to be two tactics he is particularly proud of. Yes, the other side is that Dominic is pretty cynical and ruthless about his approach to campaigning. Everyone knows that and I think pretty much everyone on both sides will admit it, at least privately. With Farage, Dominic was quite ruthless. But politics is a ruthless business.

By and large, I find that convincing. That was Dominic and he was right. So, I think he has a pretty good case to make. He seems to have read a few behavioural economics books —or looked at that type of psychological study. Again, I think one of the impressive things about Dominic—whether or not you agree with his objectives—is that he takes proper scientific evidence in the social sciences seriously and tries to apply it. Again, I think this was in contrast to the Remain campaign, which was a much more traditional election campaign by PR professionals and special advisors.

So, tell me, why did Britain vote to leave the EU? This is written by my friend and colleague Matthew Goodwin and co-authors. Matt is an expert on the rise of UKIP. The underlying cause is this sense that people felt left behind by rapid economic change and adrift from the global economy or the modern economy of London and the southeast. In terms of voting for Leave, distance from London was a factor, communities which had lower skill levels was a factor, and people who were older.

There was this combination of economic and social disconnection from the global economy in some areas, and the perceived contrast with London and other more prosperous areas like Oxford and Cambridge, York, and so on, that appeared to be doing relatively well. But in lots of other areas that was not the case. These are places that have been economically depressed since the deindustrialisation and decline of the manufacturing industry in the s and s, i.

It relates not just to the social impact of immigration but also of deindustrialisation, trade, technological progress, and so on. There is, but it came on top of these broader and more well-established economic drivers. Immigration, for some people, has become a symbol of something that was there already—the fact that some communities were being left behind, the fact that people with lower skills or qualifications are relatively very disadvantaged in the UK labour market.

Now, the fact that there has been a recent arrival of quite large numbers of people from Europe who are more skilled and better qualified and yet willing to work in low skilled jobs for relatively low wages has provided a visible focus and intensification for those feelings. Which means, I suppose, that the EU is a kind of scapegoat for problems that were already there and Brexit a huge distraction from dealing with the underlying issues. The EU has not messed up our housing market, we did that for ourselves.

As well as people being more likely to vote Leave if they were poorer, or lived in areas that were left behind, people were also much more likely to vote Leave if they had socially conservative attitudes—including on issues that have nothing to do with Brexit, like gay marriage and the death penalty.

So there is this sense that a vote for Brexit was a reaction against a trend of social liberalism in the country as a whole which is, again, associated with the EU but of which the EU is not really the main driver. And yet, views on these things were very strongly correlated with how people voted on Brexit. This ties in with a much wider social science literature which people are also looking at in the context of Trump.

Social scientists—like the authors of the book but also authors on the other side of the Atlantic—are looking at this divide between an authoritarian view of the world and a liberal one. But there is clearly this dichotomy that is not based on purely economic grounds but is also about social attitudes. Lastly, we have the novel Autumn by Ali Smith. That sounds slightly damning with faint praise because, how many Brexit novels have there been? But, that said, I do think Ali Smith is a wonderful writer.

Yes, absolutely. At one point, her mother says that one half of the town is not talking to the other half. Have you come across big divisions between families or friends over which way they voted? There is some of that. But there are a lot of people who did. Certainly, on Twitter you see people getting very, very upset. That seemed to be about all there was to it.

Yes, but that does symbolise something and ties in with what I was saying before about values. If you say, in response to an opinion pollster, that you feel European, the chances that you support the death penalty are close to zero, and the chance you support gay marriage is very, very high. Five Books aims to keep its book recommendations and interviews up to date. If you are the interviewee and would like to update your choice of books or even just what you say about them please email us at editor fivebooks.

Five Books interviews are expensive to produce. If you've enjoyed this interview, please support us by donating a small amount. Before that he was a senior civil servant, serving as chief economist at the Cabinet Office and the Department of Work and Pensions. We ask experts to recommend the five best books in their subject and explain their selection in an interview.

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That is a big improvement on existing, mechanical recycling—in which plastic is shredded, washed and melted—where quality diminishes over time. Material processed this way can only be recycled a few times, mostly into lower-quality products, before eventually going to landfills or incinerators.

Chemical recycling has been around since the s, but high costs and a lack of demand made it financially unviable. Companies are turning to it now, partly because of the need to find more recycled material to meet or forestall regulations aiming to cut emissions and waste.

The U. Skip to Main Content Skip to Search. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services Dow Jones. Chaudhuri wsj. As a result, Greece has suffered a longer and deeper recession than Germany in the s. Yes, of course Greece has very serious problems which are the fault of domestic policymakers and, indirectly, the voters that voted for them.

But German and EU institutions must take a huge share of the blame. But now it is in there. Even now, most Greeks want to stay in the Euro. Then the onus should be on trying to make the Euro work — and work for all its citizens, not just for the banks in France and Germany. Last time I tried to change money from pounds to Euro I got the shock of my life, they were almost at parity, it seemed.

This book is focused on the UK, which always has a somewhat different perspective on Europe. This book is good because Hugo Dixon is making a case for Britain to stay in the European Union from a liberal conservative perspective — and in Britain Euroscepticism, or even anti-EU feeling, is mostly on the right. A book such as this is essential reading for anyone casting a vote.

Most of these books tend to preach to the converted, whereas Hugo Dixon is actually trying to reach out to those people who might, currently, be persuaded by anti-EU arguments. Yes, I noticed one of the Amazon. Is there a specific argument that stands out? First of all, he argues that the single market, and EU membership more generally, is economically beneficial to Britain.

It would be crazy to deny ourselves the right to trade with Europe on anything else but the best possible terms — which is what the single market gives us. He also makes the case that by staying in, Britain has a strong chance to reform the European Union, in particular to complete the single market in a way that would please market-minded people in the Conservative Party.

I should add that the book is also a lot about the benefit of freedom of movement within Europe — which is an important part of the backlash here in the UK. He really knows his stuff and writes concisely and wittily. And he touches on some of these classic examples of European wastage that the British media like to make fun of, like the European Parliament moving between Brussels and Strasbourg ….

France has a veto on changing that. So unless such time as you could offer France something that it really wanted in exchange…. How does it fit in? This book is an antidote to the nationalist backlash and the temptation, which we thought we had buried, to put people into nationalist boxes and say that nations are homogeneous and national identity is what uniquely defines us and sets us apart from others.

Amartya Sen argues that that is an easy and extremely dangerous trap to fall into. Actually, we all have multiple overlapping identities — so that you can be both British, a Londoner, a husband, an Arsenal fan, a Christian, a liberal and so on. These rich overlapping identities are something to treasure. The danger is, if you start defining someone in a certain way, that provokes a counter-reaction which in turn can reinforce that.

So say you label someone as Moroccan and set them apart from the rest of Dutch society. Then even someone who wants to fit in feels rejected and may then start to define themselves as more Moroccan than Dutch. Ultimately, if you push it too far, you can end up in violence. The model for the future ought to be a diverse global city like London where part of what makes people proud to be a Londoner is the very diversity there. So diversity is not seen as in opposition to local identity, diversity is seen as part of local identity.

Five Books aims to keep its book recommendations and interviews up to date. If you are the interviewee and would like to update your choice of books or even just what you say about them please email us at editor fivebooks. Five Books interviews are expensive to produce. If you've enjoyed this interview, please support us by donating a small amount. His earlier career spanned academia, policy advice as special adviser to World Trade Organisation director-general Mike Moore , journalism, political campaigning at Britain in Europe, the pro-European campaign and independent commentating, consultancy and advocacy.

He is the founder of OPEN : the Open Political Economy Network, a new kind of think-tank functioning as an international platform for ideas, advocacy and debate on international political economy and openness issues in particular. We ask experts to recommend the five best books in their subject and explain their selection in an interview. This site has an archive of more than one thousand interviews, or five thousand book recommendations.

We publish at least two new interviews per week. Five Books participates in the Amazon Associate program and earns money from qualifying purchases. Support Us. Buy all books Read. Support Five Books. Philippe Legrain. Save for later Kindle. Nick Clegg on Favourite Books.

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