Ascribed Privilege and the Global Economy

First and foremost, this is a random possibility that came to me which I think is rather thought provoking. My argument perhaps could be encapsulated to the fact that the pervasive nature unearned white advantage might be constantly reinforced on a larger global stage through the global economy structure.

Since the 1960s, the american economy has been if not the heaviest invested country in the world attracting both investors in the US as well as the foreign money markets. The US dollar was the bench mark currency to weigh against forex market in the world. With supremacy in its economy, many foreign nations undeniably rely heavily on the US market and its local investors. Coupled with the existence of large multi-national companies which are owned by America, the dependency on such firms and the economy goes down to micro level of the society itself.

Hence, i am suggesting that perhaps the idea of white privilege has not just been a case where it is socially constructed and continually reinforced in the US itself, but has been constantly reiterated and enforced on a global stage through the economy supremacy of the US market, by corporations which are at the mercy of the US market. (note: these corporations might not be American owned or has a representation of a large number of americans.) The reinforcement that the whites are important above other, or has a better education, a better income, might come from the people who are involved in these economic activities and in many way saw the economic need to be ensuring that the corporations are operating well to ensure the smoothening of the US economy.

As the sleuth of global recessions hits the US in recent months, the US economy is seeing itself reached the 3 trillion dollars mark in deficit. Has the tide turn? The economies of China, India and the African Continents has observed rapid growth rates significantly above the averages of the global rates attained by what we now considered as developed nations. National and international agencies and MNC (multi-national corporations) once again picked up on this, and has been observed again to be entering into such markets. Would this phenomenon inevitably decrease the "power" of white privilege and in itself socially or in this case globally construct a black, brown or yellow privilege?