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Based on the World Financial Discussion board report, assist for globalization is waning in Colombia

Economic

Based on the World Financial Discussion board report, assist for globalization is waning in Colombia

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Public perception of globalization has decreased in the past two years, with almost half unsure of its benefits and more than a third in favor of trade barriers. The results of the latest market survey by the World Economic Forum / Ipsos of almost 20,000 people in 25 countries show a mixture of polarization and ambivalence with regard to free trade, globalization and protectionist politics.

According to the survey, 55% of Colombians are in favor of more trade barriers to importing foreign goods and services, and while a majority of 54% of Colombians still agree that “overall globalization is a good thing for my country,” that number is declining a whopping 20 Points since the last survey in 2019.

The decline in positive views about globalization in the 23 countries averages 10 percentage points. It is steepest in Mexico, Colombia, Chile and Peru.

Trends show that 75% of respondents agree that expanding trade is a good thing, but nearly 40% think there should be more trade barriers to limit imports of foreign goods and services. Notably, 36% are neutral or have no option.

Sean Doherty, Head of International Trade and Investment at the World Economic Forum said, “International trade and investment can grow economies, reduce poverty, improve health care and empower people around the world. However, trade-related changes can be disruptive and painful, and sometimes undermine local reforms. The apparent contradiction in the survey results is understandable: people want more of the good and less of the bad of globalization. To increase profits and get fair results for all, governments need to listen to local priorities and work together on policies on the environment, jobs, taxation, the digital economy and other cross-border issues. “

Only every second person has a positive view of globalization – down by an average of 10 points in every country since 2019. France, Russia, and Belgium have the least confidence in globalization, while Malaysia, South Africa, Peru, Brazil, and South Korea have the most confidence.

About the survey

These are the results of a 25-country survey carried out by Ipsos on its online platform Global Advisor. Ipsos surveyed between 26.

Summit for Sustainable Development 20.-23. September
These questions will be addressed at the Forum’s upcoming Sustainable Development Summit. The virtual four-day event takes place parallel to the United Nations General Assembly and brings together world leaders from business, government and civil society. It will focus on new technologies, strategies and partnerships to drive collaboration, accelerate progress and provide concrete solutions to our global challenges. Find out more.

Headline image: Image by Tony-Media from Pixabay

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