As time passes, I increasingly convince myself that the globalisation we have been experiencing over the last thirties years, has been a mistake.

In practice, the way by which the world economy is becoming “globalised” is not at all transparent. It is constantly driving developments according to the interests of big multinational companies.

Worse, the process is being allowed to carry on according to its own logic, unprincipled and lacking social commitment. What is accepted as crucial is that the free market must rule – and if it is doing so on a national scale, so it should do on a continental scale. And if beyond this, in a global context, why not?

Globalisation cannot be rolled back. But as happens when huge rivers are controlled and managed in the interests of optimising transport arrangements, the same needs to be done by creating multiple gates to guide and control as necessary, the excessively furious currents of globalisation.

***

Industrial investments

We do not get much news about the state of industrial investments in this country, covering both those investments which have been long established, as well as new ones. In a way, it is good that discretion is maintained about developments in the sector.

In the days when I was involved in running the Malta Development Corporation, First Enterprise’s predecessor, more than once I had to urge my collaborators to slow down. They would be tempted to project any budding negotiations regarding new investment as an achievementabout which triumphal declarations needed to be made. In fact many of these “triumphs” were still born.       

Yet, it would be a useful exercise if periodically an account were to be given of the actual state of Maltese industry -- so long as it is compiled in a realistic manner and stripped of all bluff.

***

Did he do well?

Was Bernie Sanders right to maintain his challenge to become the Democratic candidate for the White House up to the California primary and more, despite the “mathematical” certainty he could not secure enough delegates -- even if in primary after primary, he defeated Hillary Clinton?

It is very interesting and for me very positive that in the US political context, somebody who always proclaimed he had socialist credentials, has managed to make it this far. Who would have expected this up to not so long ago?

However given the state of affairs as of now, with Donald Trump established as the Republican representative, it has become vital that Democrats win the US presidential elections. The fact that Sanders has persisted with his candidacy till the bitter end, has reinforced the impression of rifts within their party. It is true that a substantial number of Sanders’ Democratic supporters are saying that in the end, once Clinton clinches the nomination, they will vote for her.

But the race for votes, especially at the tail end of a campaign, generates huge irritations and jealousies. As of now, everything shows that a Trump defeat is not inevitable (Sanders himself is asserting that only he, not Clinton, has the best chance of beating Trump). The Democrats could need to get out all their voters to win.

If efforts to accomplish this remain incomplete, precisely because Sanders’ people feel too hurt and stay at home, problems could arise.