People in Wealthy Countries Are against Globalization

People in the U.S. and Western Europe, who are considered the “beneficiaries” of globalization, have feelings of antipathy against globalization and the leaders of the world`s largest companies, a poll revealed.

A recent poll of six countries conducted by the Financial Times and Harris Interactive, a polling agency, showed that a majority of people in the U.S., Britain, France, Spain, Italy, and Germany are against globalization. They said, “Wealthy people should pay more money in taxes and the government should impose a pay cap on the heads of companies to limit their rewards.” The survey results reflect people’s perceptions that globalization has caused the rich to make more money, and that executives in big companies are getting more money than they deserve.

In the U.S., Britain, France, and Spain, the number of respondents who think globalization has a negative effect on their countries is three times larger than that of people who say it has a positive effect on their countries. In Germany, the world’s biggest exporter, the majority against globalization were a bit larger.

The Financial Times interpreted anti-globalization sentiment in wealthy countries as the anxiety of people over free trade with emerging economies such as China and India.

When asked, “Do you think people can show their potential abilities regardless of their background?” In France, Italy, and Spain, the number of respondents who answered negatively was four to five times larger than the rest. In the U.S., a slightly larger number of respondents answered negatively.

Asked whether the government should impose a pay cap on CEOs, 60 percent of participants in Italy, France, Spain, and Britain said “yes,” while a majority of those polled in Germany agreed, and while a third of American respondents answered in the affirmative.

The share of people who said they respect the heads of companies was lower than 5%, and a third to a half of those polled said they do not admire the people in charge of the largest companies.

Western Europeans overwhelmingly support the principle of free competition within the EU, contrary to France’s president Nicolas Sarkozy`s economic nationalism. Peoples in France, Germany and Spain want their political leaders to play a larger role in managing their economies.

The FT/Harris online poll surveyed more than 1,000 people in each of the six countries,