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Reversing globalization due to right-wing extremism demanding closures of borders and protectionism ... identity politics trumps all. We've seen it all ... Mark Carney flip-flopping?

Mark Carney: Brexit is the first test of a new global order  | The Guardian |

Brexit is an acid test of whether it is possible to reshape globalisation in a way that offers the benefits of trade while allaying public fears about the erosion of democracy, the governor of the Bank of England, Mark Carney, has said.

Speaking in London, Carney said the ramifications of the UK's departure from the EU would be felt around the world and would determine whether it was possible to shrug off rising protectionism in favour of a new era of international cooperation.

The governor cited trade tensions and the result of the 2016 referendum as examples of fundamental pressures to reorder globalisation.

"It is possible that new rules of the road will be developed for a more inclusive and resilient global economy. At the same time, there is a risk that countries turn inwards, undercutting growth and prosperity for all."

Carney's recent comments about Brexit have highlighted the short-term risks to the economy of leaving the EU next month without an agreement in place, but he used his speech on the state of the global economy to provide a more upbeat assessment.



Global Warming - distance between America and Europe is steadily increasing.
by Oui on Wed Feb 13th, 2019 at 07:36:09 PM EST

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