Barack Obama Quotes About Globalization
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This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.
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Globalization makes our economy, our health, and our security all captive to events on the other side of the world. And no other nation on earth has a greater capacity to shape that global system, or to build consensus around a new set of international rules that expand the zones of freedom, personal safety, and economic well-being. Like it or not, if we want to make America more secure, we are going to have to help make the world more secure.
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When you see a Donald Trump and a Bernie Sanders, very unconventional candidates, have considerable success, then obviously there's something there that's being tapped into; a suspicion on globalization, a desire to reign in it's excesses, a suspicion of elites and governing institutions that people feel may not be responsive to their immediate needs. And that sometimes gets wrapped up in issues of ethnic identify or religious identity or cultural identity, and that can be a volatile mix.
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There are dangers that globalization increases inequality. There are dangers that because capital is mobile and workers are not, if we are not providing them sufficient protection, that they can be left behind in this process. And that's what we have to focus on.
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Globalization is a fact, because of technology, because of an integrated global supply chain, because of changes in transportation. And we're not going to be able to build a wall around that.
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Globalization combined with technology, combined with social media and constant information, have disrupted people's lives sometimes in very concrete ways; a manufacturing plant closes and suddenly an entire town no longer has what was the primary source of employment.
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It's particularly important that we reach out to everybody in our countries, those who feel disaffected, those who feel left behind by globalization and address their concerns in constructive ways as opposed to more destructive ways.
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My second piece of advice is to stay global. As the world continues to change and we become more connected to each other, globalization will bring both benefits and disruptions to our lives. But either way, it's here, and it's not going away.
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Instead of having a set of policies that are equipping people for the globalization of the economy, we have policies that are accelerating the most destructive trends of the global economy.
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What is true, and I think that we can't deny it, is that some of the same concerns about globalization, about technology, rapid social change that were reflected in Brexit, that's been reflected in some of the debates in Germany and France and other places, that those exist in the United States as well. My view is that over the long term, over the next 10, 15, 20 years, if we are able to address the legitimate economic concerns of those who feel left behind by globalization, then many of these tensions will be reduced. And we will see a world that is less divided.
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