With Globalization in Danger, G-20 Double Down on a Defense

The world’s largest economies have prospered from globalization, yet G20 finance leaders must confront the growing opposition to trade and immigration among their citizens: “finance ministers and central bankers from the Group of 20 put a stepped-up emphasis on fiscal and structural policies to boost growth, and renewed a pledge to promote inclusiveness,” reports Bloomberg News. The article describes the scramble underway among central banks and financial chiefs to introduce various measures for preventing protectionist tendencies, and the IMF managing director describes consensus among world leaders “to share the benefits of growth and economic openness broadly within and among countries.” Elections, like the recent referendum in the United Kingdom in which voters decided to part ways with the European Union without a firm plan and the US presidential race, impose great uncertainty for the global economy. – YaleGlobal