Talk of deglobalization is exaggerated, says WTO's chief economist

Ralph Ossa, chief economist of the World Trade Organization, discusses rising trade tensions between major economies.

[erikschmidt]

What's with the audio quality? Are the hosts recorded in a storage facility or are de microphones broken?

[yumyum]

This is analogous to the chair of the US fed saying inflation is exaggerated

[therealmusky]

I think globalization is important to not only keep technology on the highest standards but also for political promotion. Globalization is important to secure peace economically as well as politically. The world diverse and so are its countries and products. By regionalization these diverse products aren’t gonna be available for all countries anymore. This way global trades should be desirable for all countries.

[iranexplained]

Globalization man says talks of his impending doom is exaggerated?
I'm shocked, shocked I tell you!

[therealmusky]

I think that the main part of the GDP varies from industrial country to developing country. I also think that China will rise because they have a large number of manual workers who can easily be replaced by robots. China is also very much ahead with technological advances in this area. This means that China cannot produce its products more cheaply and at the same time be more productive with time. This means the Chinese can import even more.

[therealmusky]

After carefully examining the statement made, I distance myself from your opinion. I'm shocked, shocked I tell you! Personally, I believe that world trade is one of the most important aspects for maintaining peace and the global economy. Instead of focusing independently on all of these goals that have been spoken about, one should look for the solution in world trade so that all problems can be solved with it. There is no such thing as deglobalization and there never will be. The world powers and the economy depend on globalization. Furthermore, there have always been fluctuations in the world market and they will continue to exist. You just have to make sure that these fluctuations don't escalate and become uncontrollable.

[therealmusky]

In my opinion, there is no deglobalization. It is rather a shift in the economy. This is mainly due to the trade conflict between China and the USA, as the USA feels threatened in its position of power by China, which has already overtaken it economically. Other developing countries, especially in Asia, are also on the rise. However, this does not mean that globalization is declining, but rather that the balance of power in the world economy is shifting.