Today may mark a milestone for the world economy and everyone who cares for our future.
The head of one of the world’s largest corporations, G.E., Executive Chairman Jeffrey Immelt today commented on the state of globalisation and how it has changed the landscape.
Defending the strategy he pointed out that it had brought out of poverty millions of people around the world. Equally he admitted this had created a wave of anger and frustration with large organisations creating distrust while global institutions have failed to meet society’s expectations: equally he placed the blame at the feet of governments.
He suggested many people in these economies have been left behind and this is the root cause of the rise of populism movement being expressed in many countries today including a push for the reintroduction of protectionism. His audience was a group of business students who he challenged to think about their next step and how they may deal with these new circumstances.
To my knowledge although I stand to be corrected we have witnessed a senior executive admit this piece of global strategy has brought with it a number of problems and has resulted in serious consequences for a great many people.
We cannot turn the clock backwards our forward efforts must revolve around our efforts to isolate the positive elements of globalisation has brought us and somehow minimise the negative effects it has on people’s lives.
22nd June 2016