While I agree with your point, I don't agree that the unchecked globalisation is to blame, rather unchecked capitalism. Even without globalisation unchecked capitalism would lead to the same result, only per country.

And the countries that did the work to rein capitalism in, in a proper way, are doing well, also in the circumstances of globalisation.

Arguably they are inseperable.

Unchecked globalism leads to unchecked capitalism as it creates a race to the bottom. Unchecked capitalism leads to unchecked globalism as it continuously seeks to lower wages.