By the 2000s, globalism was triumphant. The World Economic Forum had evolved from a cozy management-oriented workshop in the Swiss town of Davos to an extravagant summit for elites. The late political scientist Samuel Huntington applied the caustic label “Davos man” to those who see “national boundaries as obstacles that thankfully are vanishing.” For globalists, this was a badge of honor, symbolizing not just an outlook but a lifestyle of first-class departure lounges, smartphones and stock options.
This is also when globalists overreached. In 2000, Mr. Clinton blessed China’s entry into the WTO. Echoing Truman, he predicted China’s membership was “likely to have a profound impact on human rights and political liberty.”
It didn’t. China adhered to the letter of its WTO obligations while systematically violating their spirit with discrimination against foreign investors and products and an artificially cheap currency. A wave of Chinese imports wiped out 2 million American jobs, according to one widely cited 2016 study, with no equivalent boom in U.S. jobs linked to exports to China. Meanwhile, China became more repressive at home and antagonistic abroad. By behaving quite differently from other members of the global trading club, China has undermined support for it.
-Greg Ip ‘We are not the world‘ The Wall Street Journal