Globalization cannot be stopped, but it can and should be better

Further globalization is inevitable, but it needs to be more inclusive, sustainable and job-creating.
Global GDP has doubled since 1990.  But further globalization, while inevitable, must be accompanied by structural reforms.  These must enable greater international cooperation as well as policies that support more inclusive, sustainable societies.
This was the finding from the opening plenary of the recent Annual Meeting of the Global Future Councils.  The event was at Dubai, United Arab Emirates.
The purpose of the Annual Meeting of the Global Future Councils is to convene the best experts to identify ideas and models to solve critical global challenges.

Stop seeing trade as weapon

Børge Brende, president of the World Economic Forum, said: “Globalization cannot be stopped, but it can be improved. It should be more inclusive, sustainable and job creating.
“We need to stop seeing trade as a weapon but instead see it as a strong, positive force for inclusive, poverty-eradicating growth.

“Globalization’s future is no longer about physical trade. It is about knowledge, information and technology.
He added that digital trade already accounts for 12% of international trade.  Also, data flows may increase another fivefold by 2022.
“The result will inevitably be not less globalization but more, different, globalization.”

The future belongs to those who can imagine it

His Excellency Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future of the United Arab Emirates, said: “The future belongs to those who can imagine it, shape it and implement it.
“In today’s world, governments cannot create the future singularly; it is important to involve everyone from the private sector to youth, international partners and others in creating policies.
On the power of the emerging technologies of the Fourth Industrial Revolution to bring about a more inclusive and sustainable future, Al Gergawi said: “The collective mind provided by technology is much smarter than the individual mind.
“The wisdom of the crowd is a common saying; however, this saying is multiplied a thousand times when talking about and using technology.”

Greater cooperation between nations

Miroslav Lajcak, Minister of Foreign and European Affairs of Slovakia, told participants that greater cooperation between nations must shape any global architecture in the age of the Fourth Industrial Revolution.
“In my 30 years as a diplomat I see less and less dialogue. Even when leaders speak these days there are more monologues and less willingness to accept that they do not own the truth.
He said a platform where leaders can discuss openly and honestly where our planet is heading is critical.

The Annual Meeting of the Global Future Councils brings together nearly 700 world-class experts from a wide range of disciplines and backgrounds.
The experts comprise senior politicians and public figures, leaders from business, civil society, academia and the arts.  Their role at the meeting is to generate new ideas and creative solutions aimed at solving the most critical challenges.

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