An unintended though ultimately predictable consequence of globalization has been natural resource production monopolization. The massive transfer of wealth that resulted from lowering the costs of labor for and in “developed” countries has been accompanied by a political awakening in resource rich countries to the economic power of controlling natural resource production locally. What has been completely overlooked by economic theorists and neoliberalism (free and open markets) advocates is that unless everyone adheres to a theory and acts within its strictures then not free markets but oligarchic (nationally or individually) stratified markets result.…Investor Intel
China’s plan to secure critical rare earths and technology globally
Jack Lifton
ht MRW in the comments
