japantimes | The populist political tendencies among major powers is impeding the appropriate control of market activities, resulting in the creation of excess liquidity. That is making the world economy more speculative and uncertain, while turning the economic policies of the major powers more inward-looking.
Under these circumstances, globalism stands at a crossroads. Globalism is an international regime that was attained with the fall of the Berlin Wall as a turning point, beyond the waves of nationalism that dominated the world from the 19th to the 20th century and the East-West ideological divide in the second half of the last century.
It was widely hoped that the world would maintain peace through cooperation among the major powers while respecting democracy, the rule of law and human rights, promoting economic growth through market mechanism, free trade and liberalized corporate activities, and enhancing human welfare through protection of the environment, improvement in living conditions, propagation of medical care, elimination of poverty and spread of education. Globalism is the ideal of the world.
The survival of Japan, which relies on other countries for resources, food and markets, and depends on collective security for its defense, cannot be ensured without globalism. It’s now time for Japan to make efforts to fortify the foundation of globalism by explaining to the world its significance and presenting a concrete vision.