Globalization has brought many economic benefits to the world but needs a “course correction” to address growing inequality, US President Barack Obama said Wednesday on his European farewell tour.
“The global path of globalization demands a course correction,” Obama said in a speech in Greece, before continuing his journey to Berlin.
He added that inequality in the global economy “now constitutes one of the greatest challenges to our economies and to our democracies,” he said.
On his final voyage abroad, the outgoing president has repeatedly referred to the anger that lately brought success to populist movements in Europe and the United States, such as the Brexit referendum and Donald Trump’s surprise election.
“The impulse to pull back from a globalized world is understandable… but given the nature of technology it is my assertion that it’s not possible to cut ourselves off from one another,” Obama said.
— AFP
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