Will Globalization be a Victim of the Recession?

Will Globalization be a Victim of the Recession?
Migrant workers are returning home in droves. Even those who are not going home are reducing the remittances they send. Economic immigration is slowing to a trickle. Workers in almost every country blame job losses on “cheap foreign labor”. That includes the providers of “cheap foreign labor”. Luxury 2nd home sales and international tourism have dropped substantially.
Trends are evident in the real estate market. The “bottom fishers” are finally coming out. In most countries the bottom fishers are foreign investors. The middle-eastern investors especially are in a buying mode. In some markets, local investors are buying assets that foreigners cannot afford to keep. Corporate mergers and acquisitions are way up. The economist says they have increased 25% over last year. These are stronger companies taking over weaker companies for the most part. Also they are weaker companies trying to get together to stay afloat.
As the world economy contracts forces will pull in two directions. There will be reduced incentive to export jobs and import goods. There will be an increase in searches for investment opportunities in other markets. Good luck world.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com