business

Trade protectionism threatens global economy's broad-based upturn

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Hard pressed families are not feeling the effects of globalization in any improvement in their standard of living.

Wages are depressed because widening income inequality, a direct effect of huge conglomerates that take cynical advantage of counties with the lowest income levels and lack regulatory employment/social restrictions.

This is compounded when comparing consumer purchasing power against financial institutions, banks and investors being able to expand their activities geographically yet dismantle controls and vital tax revenue growth on cross border flows of financial investment. As in the case of race to the bottom corporate tax incentives.

A issue the World Bank and IMF conveniently bushes aside.

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