Liam Fox: globalisation needs to be championed more vigorously

Globalisation is becoming “increasingly misunderstood” and needs to be championed more vigorously, Liam Fox has said after praising Brexit as a “golden opportunity” for international aid.

 

The trade secretary is calling for a more muscular defence of the benefits of globalisation, saying it is a powerful tool for reducing poverty, weeks after Theresa May said at the G20 summit in China that the scale and pace of globalisation was making too many people feel insecure.

 

May hailed the principles of free trade, saying she wanted the UK to become a world leader after leaving the EU. But she also said: “We must recognise that for too many men and women the increasing pace of globalisation has left them feeling left behind.”

 

The rise of populist, anti-establishment parties and figures – from Donald Trump and Ukip on the right to Jeremy Corbyn and Syriza on the left – has frequently been attributed to the idea that globalisation has helped the wealthy while failing to benefit those on lower incomes in the same way.

 

Arguments have also been made that the UK electorate’s vote for Brexit was a result of discontent with the consequences of globalisation, including free movement of labour, capital and trade.

 

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