Davos logic ruffles feathers in SA
Founded in 1971 by globalisation advocate Klaus Schwab, the forum was created on the premise that world problems could not be solved by politicians and business people in isolation, but through collaborative efforts
Schwab has remained a keen defender of globalisation. In the New York Times in 1996, he indicated that the "mounting backlash against [globalisation's] effects ... is threatening a very disruptive impact on economic activity and social stability in many countries". Fast-forward 20 years and it appears the threats are even more pronounced. Last June , Britons voted to leave the EU in a rejection of the fundamental tenets of globalisation - free trade across borders . As part of the EU trade compact, free mobility for European citizens had led to countries becoming increasingly cosmopolitan. As a consequence, citizens increasingly felt that their countries had abandoned sovereignty in favour of membership of the European free trade agreement. In Britain, in particular, an influx of low-skilled Eastern Europeans competed for jobs with British citizens and were willing to settle for much lower wages. So although employment and economic activity might have remained robust and even growin...
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