Making globalization work for all

After three decades of poorly managed integration, globalization is today threatened by social discontent and the rise of populist forces. A new paradigm will need better ways not only to compensate those groups that have lost out, but to distribute the gains more broadly from the start.

Globalization

New Paradigm Knowledge Base

  • The Challenge

    The long post-war wave of globalization has come to a halt and the world economy is now threatened by disintegration.

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  • What went wrong?

    Liberalizing international trade will lift all boats, since the losers from globalization can easily be compensated.

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  • New Economy in Progress

    Globalization produces discontent and policy needs to take costs and compensation more seriously.

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5 ways that are discussed to make globalization work for all

  1. • Training programs, job search assistance and more effective redistribution.
  2. • Regions react differently to trade shocks, so policies must focus on their particular needs.
  3. • Governments could refrain from signing up to “deep” trade agreements.
  4. • Increase cross-border labour mobility by allowing more workers to migrate from poor to rich countries.
  5. • Stronger industrial policies, subsidies or protectionism of selected industries in developing countries.

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