Stick up for global trade, report says

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndo GLOBALISATION must be promoted by business and governments as “a positive force for economic and social good,” an influential report said today.Despite a slight slowdown during the recession, the world’s largest economies will continue to globalise steadily between now and 2014, according to the Ernst and Young globalisation index.And authorities must “avoid any descent into protectionism,” said Ernst and Young’s John Ferraro.The index ranked the world’s largest 60 economies according to their level of globalisation relative to GDP. The UK remained at number 15, overtaking Canada but being overtaken by Slovakia, which jumped 12 places. Poland and Slovakia both performed well, largely due to big increases in internet subscriptions and tourism.Despite its economic troubles, Ireland received a rare piece of good news, moving from third place to second place in the list.“Exports have remained the bright light in Ireland’s story, underpinned by the country’s chemicals, pharmaceutical and tech sectors,” Ferraro said.“The government has also remained absolutely adamant that Ireland retain its 12.5 per cent corporate tax rate to ensure that multinational companies that have headquarters in Ireland will remain,” he added.“The survey supports the view that governments will find protectionist arguments less compelling and more expensive to implement,” commented Dan Ikenson, trade economist at the Cato Institute in Washington DC.“Openness to trade, finance, and labour in all directions will become even more imperative in the years ahead,” he added.Despite the global economic slowdown, there has not been a return to “ruinous tit-for-tat protectionism,” he said.According to the World Bank, 400m people in China have escaped poverty due to trade liberalisation, Ikenson said. Sunday 23 January 2011 10:22 pm Stick up for global trade, report says Show Comments ▼ KCS-content Sharecenter_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Tags: NULLlast_img read more