The world needs to turn away from the “unbridled globalization” of the past few years, it must “become better, fairer and more sustainable,” said Economics Minister Habeck on the fringes of the World Economic Forum.
(Photo: AP)
davos At the World Economic Forum (WEF), Federal Economics Minister Robert Habeck warned of a global economic slump – and called for the promotion of free trade as the best antidote. There are currently several interconnected crises, said the Vice Chancellor: “high inflation, the energy crisis, the food shortage and the climate crisis”. According to Habeck, if none of these problems were solved, there would be a risk of “a global recession”.
The answer to the crises is all too often more nationalism and more isolation, said the Vice Chancellor. But that is the wrong way. The best answer is open markets, but with new rules: the world needs to turn away from the “unbridled globalization” of the past few years, it needs to “become better, fairer and more sustainable. Sustainability is the essence of trade, not a nice-to-have,” the minister told Handelsblatt on the fringes of the World Economic Forum.
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