Globalisation is good. That’s the message leaders of developing countries want to send from the Davos forum to US President Donald Trump, who took office yesterday.
Any return to protectionism, they fear, could bring the sky down on decades of trade-based economic growth that has lifted countless millions out of poverty.
And for all the problems of blue-collar workers, globalisation has helped to achieve low inflation and low unemployment for Americans too, they argue.
Elected on an anti-immigration, protectionist platform, Trump has already caused ructions on the financial markets of many developing countries with threats to scrap trade agreements and impose “a very …read more
Source: Gulf times
