Policy-making elites meet in Washington Friday for talks that epitomize a faith in globalization that’s at odds with the growing backlash against the inequities it creates, Bloomberg reports.
From Britain’s vote to leave the European Union to Trump’s championing of “America First,” pressures are mounting to roll back the economic integration that’s been a hallmark of these International Monetary Fund and World Bank meetings for more than 70 years.
Fueled by stagnant wages and diminishing job security, the populist uprising threatens to depress a world economy that IMF Managing Director Christine Lagarde says is already “weak and fragile.”
Lagarde says policy makers attending the Oct. 7-9 annual meeting of the IMF and World Bank have two tasks. First, do no harm, which above all means resisting the temptation to put up protectionist barriers to trade. Second, take action to boost lackluster global growth and make it more inclusive.