Globalization and Its Discontents Revisited w/ Branko Milanović - U.S.-China Perception Monitor
Over the past few decades, as Professor Milanović argues, the rise of Asia constitutes the second largest reshuffling of global income since the Industrial Revolution. Neoliberalism, championed by Reagan and Thatcher as a means to enrich Western nations, had the unexpected effect of creating a new global elite, much to the dismay of the Western middle class. This has triggered significant political turbulence and discontent, which major political leaders such as Xi, Putin, and Trump have used as a vehicle to legitimize their leadership. What is striking about neoliberalism is that it gave rise to the very conditions that sped its own decline. China Focus sat down with Professor Milanović to discuss his new book, The Great Global Transformation: National Market Liberalism in a Multipolar World. Branko Milanovic obtained his Ph.D. in economics (1987) from the University of Belgrade with a dissertation on income inequality in Yugoslavia. He served as lead economist in the World Bank’s Res