Is globalization all it is cracked up to be?

Many of the world's population have gained from the globalization of produc t markets. At the same time the numbers living in absolute poverty have rem ained stubbornly large and inter- and intra-country income distribution has worsened as globalization has proceeded. Two outcomes to globalization are analysed - a positive-sum 'blue scenario' of full employment and effective redistributive mechanisms, and a 'red scenario' of a growing global reserv e army of skilled workers, and the weakness of political processes favourin g redistributive mechanisms. The conclusion is that the negative-sum red sc enario is the most likely outcome of the unequalizing tendencies of globali zation. The role which China plays in the creation of this global reserve a rmy of labour - especially of skilled labour - is given particular attentio n.