Front Matter
Author:
International Monetary Fund
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Language:
English
Keywords:
SPE; trade growth; unemployment insurance; economy; global village; trade
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Abstract

This paper focuses on concerns over wages, jobs, and future prospects are real and pressing for those who are not well equipped to thrive in this new world. History clearly tells us that closing borders or increasing protectionism is not the way to go. Many countries have tried this route, and just as many have failed. Instead, we need to pursue policies that extend the benefits of openness and integration while alleviating their side effects. Emerging and developing economies have been the prime beneficiaries of economic openness. According to the World Bank, trade has helped reduce by half the pro¬portion of the global population living in extreme poverty. China, for instance, saw a phenomenal drop in its extreme poverty rate—from 36 percent at the end of the 1990s to 6 percent in 2011. Another example is Vietnam, which—in a single generation—moved from being one of the world’s poorest nations to middle-in¬come status—which has allowed for increased investments in health and education.

Christine Lagarde

Making Globalization Work for All

Sylvia Ostry Lecture Toronto · September 13, 2016

IMF Managing Director Christine Lagarde delivered this lecture at the C.D. Howe Institute in Toronto, Canada. The Sylvia Ostry lecture was established in honor of one of Canada’s foremost economists in 1991 to raise the level of debate on trade and international policy

Lagarde praised Ostry for “setting the highest standards, not only for economists but for all those who believe that public service is more than just a job.„

Copyright © 2016

International Monetary Fund

Washington, D.C. 20090, U.S.A.

All Rights Reserved.

ISBN: 978-1-51356-323-7 (paper)

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Contents

  • Making Globalization Work for All

    • Introduction

    • Globalization—the Balance Sheet

      • Real Benefits

      • Real Side Effects

    • What Can Governments Do?

      • More Support and Greater Fairness

    • Step Up Global Cooperation

      • Reinvigorate Trade

      • New Deals

    • Conclusion

  • Collapse
  • Expand
Cover Making Globalization Work for All
Making Globalization Work for All
ISBN:
9781475536461
Publication Date:
30 Sep 2016
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781475536461.076
Pages:
8