"Martin Hart-Landsberg" - Globalization And Its Consequences

By Martin Hart-Landsberg
Global Research, June 22, 2011
http://globalresearch.ca/index.php?context=va&aid=25360
Although capitalism has always been a global system, the international integration of production and finance and our dependence on cross-border activities seems greater than ever before. At the risk of oversimplifying, we now have a world system within which Latin America, Africa and the Middle East specialize in the production and export of primary commodities, increasingly to East Asia. East Asia operates as the world's manufacturing hub, exporting final products to the developed capitalist world, especially the United States. And the United States specializes in providing the finance that underpins the international production system and developed capitalist country consumption.
While this global system has done little for popular well-being, elites have clearly profited. As the Wall Street Journal reports:
