|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Global Elites Insist on Greater Trade Openness to Halt Populism

WASHINGTON – The world economic elite, meeting this week at the International Monetary Fund’s annual assembly, closed the gathering on the weekend with a firm defense of globalization and openness to trade against the growing threat of protectionism or populism.

“The first priority for inclusive growth is to escape the ‘new mediocre’ of low growth, low employment, and low wages. That means using all policy tools – monetary, fiscal, and structural: to maximize the synergies within countries – and amplify the impact though coordination across countries,” IMF chief Christine Lagarde said.

Lagarde insisted that the drop in world trade is one of the reasons for the fragile international outlook, and she affirmed that trade is one of the economic engines that must be revitalized.

During the meeting, attended by the economy ministers, central bankers and experts from the IMF’s 188 member countries, officials expressed a marked concern for the mistrust of the benefits of global trade evidenced in the presidential election campaign in the United States, the world’s largest economy.

In an interview with EFE at the annual assembly, Lagarde said that there is concern about the anti-trade rhetoric being heard in the U.S. presidential campaign, adding that there is no doubt that it could damage that engine for growth.

In addition to the protectionist tone in the U.S. elections, the recent vote in the United Kingdom to leave the European Union – known as the “Brexit” vote – has caused alarm bells to ring in world financial centers.

It is perhaps for that reason that the IMF has expanded the focus of its analysis, which has been traditionally focused on macroeconomic stability and growth, to include calls for the need to fight economic inequality and the negative consequences of globalization.

In her speeches over the past week at the meeting, Lagarde, the former French finance minister, repeatedly emphasized that growth has been “too low” for “too long,” immediately thereafter adding that it has benefited too few people around the world.

The words of the IMF chief – which were seconded by World Bank president Jim Yong Kim, who said that without a significant push for more world trade the aim of significantly reducing poverty cannot be reached – were well received by activists and non-governmental organizations.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved