Monday, 23 Jan 2017 15:14 GMT

The steamroller of globalisation

Globalisation. This is not just a word, or even an idea, it is an ideology that has steamrollered any other form of socioeconomic system that has stood in its way. In its most essential form, its philosophy is that the benefit of the many is worth the suffering of the few. But, if you are willing to sacrifice the few repeatedly, then over time, they start to become the many.

Brexit was the perfect example of this trend writ large, where disaffected regions trampled by globalisation and with no proper reparation for their losses decided to vote with their feet and strike a blow for localism, for the few, for their communities. The issue is that the demands of the few could have very serious consequences for the many.

A good example of the affect our approach to global free trade, and place in the European Union, has had on the few is in places like Blackburn in Lancashire. Once the beating heart of the industrial revolution, it has seen manufacturing employment decimated. Why? Well, largely unrestricted foreign imports and immigration, global trade deals, and a strong focus on The City. But while places like Blackburn have suffered, the UK’s globalisation agenda has seen its GDP grow by 10 percent since joining the EU and strongly opening ourselves to foreign trade. The result has meant there is far more money in general to support the poorest in our country and, overall, our wellbeing as a nation has increased since the 1970s.

Once the beating heart of the industrial revolution, it has seen manufacturing employment decimated”

Edinburgh’s First Display Trade is a perfect example of how Brexit is starting to bite. A trade supplier to many of you in the UK sign and print industries, it sources high quality three-year guaranteed products from Europe and China, passing on the savings to its customers and increasing their competitiveness in this global economy. But with exchange rates as they are, it has now had to take the brave decision to take a significant hit and keep its prices static for 2016. Many smaller firms rely on First Display and its decision is thus admirable, but is evidence that the demands of the few will start to hurt the many.
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