That is how Gordon Brown is describing the current crisis.
In a speech in London ahead of a series of meetings with the heads of world financial institutions and Asian economic powers, Mr Brown will say there must be no retreat into trade protectionism or a "financial mercantilism" which would restrict banking activities like lending to domestic markets.
Brown is expected to say that this current economic crisis should not be used as an excuse to ditch globalisation. He is wrong. I know a lot of people on the right think that globalisation is a good thing - supposedly market driven, capitalist and conservative - but it isn't.
Let's just put some historical perspective on this first of all. Since industrialisation there have been two major worldwide depressions. The first in the last quarter of the nineteenth century and the second in the 1930's. Both came after a period of "globalisation" and on both occasions, the countries that fared best during those depressions were those countries that retained some degree of self-sufficiency and trade protection.
Globalisation is not a form of capitalism either, rather it is a form of corporatism - the situation whereby governance is by or influenced by unelected bodies of people rather than by direct democracy. The obvious examples of corporatism are the usual suspects - the UN, EU, WTO and World Bank - but less obvious are the countless NGOs that have proliferated in recent years and which have developed very sophisticated methods for influencing governments by utilising the pre-existing corporate bodies such as the UN, EU and so on.
The one thing these groups all have in common is the Utopian dream of establishing a corporatist network of world government - the "new global order" that Brown speaks of - and globalisation is a key tool of that dream. It always has been. It would be wrong for me to assert that corporatism is exclusively socialist - it is not - but it is a key component of socialism and with the vast majority of western governments being left leaning there is a natural tendency for any drift to corporatism to result in a socialist dominance.
And although corporatism isn't about business corporations, the rise of corporatism does give big business a massive advantage over smaller companies as they can influence policy making in their favour. This restricts the "free market" and "free trade" rather than encouraging it resulting in a few huge global corporations having larger and larger slices of a market.
This is why I claim to be a supporter of capitalism and free markets, but opposed to globalisation. Capitalism, a free market and free trade are essential for any national economy, but equally essential is the ability of a nation to decide what it imports and what effect that will have on the national economy and independence. It is also why I am opposed to us allowing foreign ownership of major key industries.
This isn't xenophobia - I have no problem with foreigners starting new British businesses - but a nation has to retain a considerable degree of control over its economy or it will suffer in the long term and you can not do that if your economy is subject to the whims of a global economy.
Let me reiterate that this is nothing new. It has happened before and in exactly the same way. Incidentally - and probably connected - on all three occasions where there has been a period of globalisation it was preceded by the birth of a new global communications system. The telegraph in the late 19th century, the radio in the early 20th century and the Internet in the late 20th century/early 21st century.
That doesn't mean I am opposed to new technologies - far from it - but it does mean that we have to keep an eye out for those people who will use these technologies for their own ends - as there always are - and guard against it. Does that mean I think we should restrict the Internet? Good God, no! What it does mean is that we shouldn't fall for the lies of people like Brown who claim to put Britain first, but who really puts his own socialist ideals above anything to do with this nation.
Globalisation (along with interdependence) is a key tool of establishing a system of world governance through corporatism. It is anti-competitive and therefore anti-free market and anti-free trade. Don't be fooled with the "free trade", "free market" and "capitalism at work" hype - people like Gordon Brown wouldn't support it if that was what it was really about.