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April 19
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Globalization helps poor as well as rich countries, whereas the economic integration makes it hard for other states to step aside, said the Executive Director of the World Bank, Kristalina Georgieva, to Reuters.

"Open markets, trade, division of labor has worked extremely well for the poorer countries," she said. Rich countries also benefit from the growth of the middle class, which requires the developed countries to expand the export, said Georgieva.

Georgieva called for an "intelligent, calm conversation" about sharing the benefits of globalization. She is convinced, that if in a row of decades the economic interdependence and integration get unraveled, it will affect all the countries.

"It's impossible to say, now we are in this boat, but it is only your end of the boat that is sinking,” Georgieva stressed. Instead of creating economic barriers, countries should encourage competition, support innovation, and increase productivity, she said.

According to an international charity organization Oxfam, the Eight of the richest people in the world manage the funds, which equal to half of the world population’s capacities.

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