Don’t blame globalisation for poverty

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Liam Fox is secretary of state for Defence, UK
The Guardian Newspaper, an Opinion

Two hundred and forty years ago, Adam Smith published one of the most important texts ever written. The Wealth of Nations set out his vision of free trade as a pathway to opportunity and prosperity for all; and that in a true open global economy no one need lose out – we all could benefit.

Globalization needs to be championed more vigorously

Yesterday I was in Manchester speaking about why I believe his principles are as much alive and relevant today as they were in the 18th century – despite vastly different trading environments.

We stand on the verge of an unprecedented ability to liberate global trade for the benefit of our whole planet with technological advances, such as the internet and e-commerce, dissolving the barriers of time and distance. And because of the brave and historic decision of the British people to leave the European Union, I believe the UK is in a prime position to become a world leader in free trade.

Globalization represents an acceleration of the trend in which the world has become increasingly compressed, economically, culturally and politically. However, it is becoming increasingly misunderstood and its benefits not championed vigorously enough. While the increased economic activity that globalization has generated has been broadly welcomed by business, politicians have often worried about how the dissolving concepts of sovereignty will affect their ability to influence events, and many have worried about the effects on the world’s most vulnerable people.

For the entire article please click on:  

theguardian.com/…/globalisation-poverty-corruption-free-trade-liam-fox

 

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