Slop.

What does he even mean by Globalization failed?

Basically, we've hit the limits for being able to raise the living conditions for those living in the metropolitan powers of the colonial era, and we can no longer pretend that globalization will allow us to endlessly expand our consumption and raise quality of life with no negative consequences. At least, no negative consequences as long as we collectively ignore the fact that we've just outsourced the worst consequences of pursuing these policies to poorer countries in Latin America, Africa and Asia. As long as the sweatshops, wars over resources, crushing poverty and widespread suffering due to famine, droughts and war happened elsewhere, to other people that only get a short paragraph about their suffering from the consequences of Western economic policies, rather than having to write the "Oh, it's so sad how they're suffering horribly because of what we continue to do," articles about people living in the UK, rather than in Sudan or something, they could count on a majority of people to bury their heads in the sand and act as though everything was going swimmingly.

Now that we're hitting the reality of those consequences coming home to impact us first-hand, the jig is up and we have to break out some new type of smoke and mirrors to try and keep the populace from seeing through the lies and realizing the whole system is a worm-eaten husk that needs to be torn down before it comes down on our heads.