Editing 2000s (section)

=== Globalization and its discontents ===
{{See also|Globalization#Effects of globalization|Offshore outsourcing#Source of conflict|Business process outsourcing to India}}
[[File:An Indian call center.jpg|thumb|upright|[[Offshore outsourcing]] of jobs, such as this [[call centre]] in India, significantly increased during the decade as many [[multinational corporation]]s moved their [[manufacturing]] and [[Service (economics)|services]] from [[Western world|western countries]] to [[Developing country|developing countries]].]]
The removal of [[Trade barrier|trade and investment barriers]], the growth of [[domestic market]]s, [[Purchasing power parity|artificially low currencies]], the [[History of education#Recent world-wide trends|proliferation of education]], the rapid development of [[high tech]] and [[information system]]s industries and the growth of the [[world economy]] lead to a significant growth of [[offshore outsourcing]] during the decade as many [[multinational corporation]]s significantly increased [[subcontractor|subcontracting]] of [[manufacturing]] (and increasingly, [[Service (economics)|services]]) across national boundaries in [[developing countries]] and particularly in China and India, due to [[Outsourcing#Reasons|many benefits]] and mainly because the two countries which are the two most populous countries in the world provide huge pools from which to find talent and as because both countries are low cost sourcing countries. As a result of this growth, many of these developing countries accumulated [[capital (economics)|capital]] and started investing abroad. Other countries, including the [[United Arab Emirates]], Australia, Brazil and Russia, benefited from increased demand for their mineral and energy resources that global growth generated. The hollowing out of manufacturing was felt in Japan and parts of the United States and Europe which had not been able to develop successful innovative industries. Opponents point out that the practice of offshore outsourcing by countries with higher wages leads to the reduction of their own domestic employment and domestic investment. As a result, many customer service jobs as well as jobs in the information technology sectors ([[data processing]], [[computer programming]], and [[technical support]]) in countries such as the United States and the United Kingdom have been or are potentially affected.

While [[International trade|global trade]] rose in the decade (partially driven by China's entry into the [[World Trade Organization|WTO]] in 2001), there was little progress in the multilateral trading system. [[International trade]] continued to expand during the decade as emerging economies and developing countries, in particular China and South-Asian countries, benefited low wages costs and most often undervalued currencies. However, global negotiations to reduce tariffs did not make much progress, as member countries of the [[World Trade Organization]] did not succeed in finding agreements to stretch the extent of [[free trade]].<ref>[[EFE]] [http://www.abc.es/20080729/economia-economia/fracasan-negociaciones-ronda-doha-200807291828.html Fracasan las negociaciones de la Ronda de Doha para liberalizar el comercio] July 28, 2008, [[ABC (Spain)]] {{webarchive|url=https://web.archive.org/web/20120402234924/http://www.abc.es/20080729/economia-economia/fracasan-negociaciones-ronda-doha-200807291828.html|date=April 2, 2012 }}</ref> The [[Doha Development Round|Doha Round]] of negotiations, launched in 2001 by the WTO to promote development, failed to be completed because of growing tensions between regional areas. Nor did the [[World Trade Organization Ministerial Conference of 2003|Cancún Conference]] in 2003 find a consensus on [[Trade in services|services trade]]<ref name="Cancún">''[[El Mundo (Spain)|El Mundo]]'', [http://www.elmundo.es/papel/2003/09/16/economia/1474737.html "El fracaso de la Cumbre de la OMC muestra la fortaleza negociadora de los países pobres"] September 16, 2003 {{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref> and [[Agricultural subsidy|agricultural subsidies]].<ref>[[Food and Agriculture Organization]] [http://www.fao.org/newsroom/es/news/2006/1000375/index.html "La Ronda de Doha necesita un cambio de orientación"] {{Webarchive|url=https://web.archive.org/web/20121213200550/http://www.fao.org/newsroom/es/news/2006/1000375/index.html |date=December 13, 2012 }} August 8, 2006 "El fracaso de la Ronda de Doha de negociaciones para liberalizar el comercio internacional se debe sobre todo a la lucha para obtener ventajas en los mercados agrícolas por parte de las grandes potencias, empresas y lobbies"</ref>

The comparative rise of China, India, and other developing countries also contributed to their growing clout in [[International marketing|international forums]]. In 2009, it was determined that the [[G20]], originally a forum of finance ministers and central bank governors, would replace the [[G8]] as the main economic council.

'''[[2007 Chinese export recalls]]''' – in 2007, a series of product recalls and import bans were imposed by the product safety institutions of the [[United States]], [[Canada]], the [[European Union]], [[Australia]] and [[New Zealand]] against products manufactured in and exported from the [[mainland China|mainland]] of the [[China|People's Republic of China]] (PRC) because of numerous alleged [[Consumer protection|consumer safety]] issues.

Events in the confidence crisis included recalls on consumer goods such as [[2007 pet food recalls|pet food]], [[toy]]s, [[toothpaste]], [[lipstick]], and a ban on certain types of [[seafood]]. Also included are reports on the poor crash safety of Chinese automobiles, slated to enter the American and European markets in 2008. This created adverse consequences for the confidence in the safety and quality of mainland Chinese manufactured goods in the global economy.