Strategies to Fight the Globalization Trap
James D. Wolfensohn, President of the World Bank Group, discussed the concept of a globalization trap that have gotten support from quite a few critical publications recently. His concern with regards to globalization centers on two aspects of the problem. The first aspect is an increasingly imbalan...
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| Format: | Speech |
| Language: | English en_US |
| Published: |
2017
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| Online Access: | http://documents.worldbank.org/curated/en/2015/12/25657402/remarks-world-economic-forum-strategies-fight-globalization-trap-james-d-wolfensohn-president http://hdl.handle.net/10986/26175 |
| Summary: | James D. Wolfensohn, President of the World Bank Group, discussed the concept of a globalization trap that have gotten support from quite a few critical publications recently. His concern with regards to globalization centers on two aspects of the problem. The first aspect is an increasingly imbalanced development path in which globalization is the reason for winner taking it all while the losers are left behind. The second aspect is that public interest is becoming secondary to individual interest, or turn it the other way around, globalization drives development, whereas government is at a loss to control it. An offensive strategy to fight the globalization trap is needed: the first aspect being a closer cooperation between the public and private sector to improve education and infrastructure, the second being to use the markets to solve problems rather than rely on government regulations, and the third is to make global communication facilities a tool for global cooperation. |
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