World Bank, IMF challenged by anti-globalisation wave

sentinelblog

From Channel NewsAsia

Global finance leaders on Thursday publicly confronted the rising unpopularity of trade liberalisation, saying world economies needed to strive for more inclusive growth.

WASHINGTON: Global finance leaders on Thursday (Oct 6) publicly confronted the rising unpopularity of trade liberalisation, saying world economies needed to strive for more inclusive growth.

With Republican presidential candidate Donald Trump leading a surge of anti-free trade sentiment in the United States, and Britain voting to secede from the European Union, top central bankers and finance ministers were pressed to defend long-standing ideology at the World Bank and International Monetary Fund annual meetings.

“We shouldn’t apologise for what has happened and hundreds of millions of people being lifted out of poverty and opportunity being created,” Mark Carney, governor of the Bank of England, told a panel on the global economy.

“But there are challenges with distribution,” he said. “How do we work with…

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