Davos Elite Admit Globalization Is A Failure
by Baxter Dmitry
YourNewsWire.com
January 24, 2017
Elites at the World Economic Forum’s annual meeting in Davos, Switzerland, spent the week bickering about how best to address the rejection of globalization and the upending of the New World Order, a debate made doubly urgent for the terrified globalists by upcoming elections in Europe this year where anti-establishment parties stand to gain more ground.
International Monetary Fund chief Christine Lagarde – recently convicted on charges of misusing public funds – urged a list of policies from programs to retrain workers to more social spending, while other globalist elites admitted they are “terrified of democracy” and fretted that the people of the world will continue to reject their agenda.
Hedge fund billionaire Ray Dalio warned on a panel chaired by Bloomberg Television that “we may be at a point where globalization is ending, and provincialization and nationalization is taking hold.”
That leaves the global elite in Davos trying to patch together expensive remedies to make the current system of global trade, bankster criminality and corporate rule that the Davos club represents acceptable to the public at a time when figures like President Trump threaten to dismantle it by scrapping trade deals and introducing tariffs.
‘Higher taxes’
However some Davos attendees don’t seem to have fully appreciated the mood of the people. Richard Baldwin, professor of international economics at the Graduate Institute of International and Development Studies in Geneva, said elites should impose higher taxes on workers to pay for the costs of globalization. “There may just be a need to man up. We have to pay for the social cohesion that we need to keep our societies advancing, and accept that this may be a higher tax burden on people.”
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