Trade barriers could be as dangerous as climate change and terrorism

ORIGINAL PUBLICATION HERE

The first World Economic Forum gathering in Davos took place in 1974, and this year’s meeting was the fourth that I have attended.

The world has changed dramatically in those 44 years. We have seen so much progress as a global society. But a growing disparity has also emerged between those fortunate enough to benefit from globalisation and those who feel let down and left out by the institutions that promised to work in their favour. Globalisation and digital connectivity have brought the world closer together. International trade has helped drive economic growth and lifted many millions out of poverty. Exports of goods and capital have increased the growing wealth of nations around the world.

But if globalisation has brought so many benefits, why have we reached the point where retrenchment and national self-interest have become such a threat to international stability?