The Cost of Overhyping Globalization
As the world’s financial elite converges on Washington, DC, for the annual meetings of the IMF and the World Bank, they cannot escape yet another clarion call to reverse the retreat of globalization. But the assumption that faltering trade is an adverse trend that must be addressed is simplistic, at best.
BRUSSELS – As the world’s financial elite converges on Washington, DC, for the annual meetings of the International Monetary Fund and the World Bank, they cannot escape yet another clarion call to reverse the retreat of globalization. Faltering trade, it is assumed, must be an adverse trend that needs to be addressed. But the assumption is simplistic, at best.