Economic globalization refers to the integration of chains of global capital, production, and trade that began in the 1940s and 1950s, matured in the 1970s and 1980s, and was established as a global norm in the 1990s. International agencies and corporations were the driving forces, as they demanded the loosening of regulation and controls to allow the free flow of capital. On the surface, economic globalization was promoted by Western countries to spread capitalism around the world.
Unfortunately, however, globalization has become a vehicle for communism to spread. In particular, globalization has resulted in Western countries providing financial support for the Chinese regime, resulting in a mutual dependency between the capitalist market economy and the CCP’s socialist totalitarian economy. In exchange for economic benefits, the West sacrifices its conscience and universal values, while the communist regime expands its control by way of economic coercion, as though communism were set to gain global dominance.
Globalization has transformed the global economy into a single large economic entity. In this process, large international organizations, treaties, and regulations have been formed. On the surface, this appears to be about the expansion of capitalism and the free market. But in fact, a unified economic control system has been formed, one that is able to issue orders to determine the fate of enterprises in many countries. This equates to forming a centralized totalitarian economic system, which is highly in line with Stalin’s goal of uniting all countries to form one economic system. After this international financial order was established, the phenomenon of long-term economic aid from developed countries to developing countries was also formed. This is exactly Stalin’s third goal.
In terms of financial aid, international financial organizations usually implement macro intervention to the aid-receiving country’s economy. The method used is dictatorial. It is not only forceful, but it also ignores the social, cultural, and historical conditions of the recipient country. The result is less freedom and more centralized control. American scholar James Bovard wrote that the World Bank “has greatly promoted the nationalization of Third World economies and has increased political and bureaucratic control over the lives of the poorest of the poor.”
On the other hand, economic globalization has created a homogeneous global economy, leading to greater similarities in consumer trends and unified mechanisms of production and consumption. Small companies, especially traditional arts and crafts stores, have less space to survive. Many small companies and those associated with local ethnic groups have simply been wiped out by the wave of globalization. More and more people have lost the environment and feasibility to freely engage in commerce within their own borders.
Developing countries become part of a global production chain, weakening the economic sovereignty of individual nations and in some cases, leading to state failure. Some countries become burdened with debt and the need to meet repayments, fundamentally rupturing the foundation of free capitalist economics.
From Chapter Seventeen: Globalization: Communism at Its Core