One of the big discussion points at Davos is how to deal with globalisation and improve capitalism. This is something of a surprise. Davos is notionally the pinnacle of capitalism, the place where the plutocrats of the world strut their stuff, rub shoulders with the worlds political leaders, and meet their mates from across the world and cut enormous deals. Yet the happy notion that globalisation and capitalism will naturally bring good to the world has been rocked by a host of things that weren’t supposed to happen. Some are obvious: the election of populist leaders such as US President Donald Trump and the rise of populist parties all over the world. Some are less obvious. The growth of world trade has stalled. For almost a decade now, the growth in international trade has more or less matched global economic growth. To the world’s growing contingent of anti-globalists, this is good news. Since the supporters of Trump, for example, haven’t felt the benefits of global trade themsel...

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