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Indian PM: Globalization is losing ground

Indian PM: Globalization is losing ground
Narendra Modi is first Indian PM to speak at World Economic Forum since 1997

By Fatih Erel

DAVOS, Switzerland (AA) - Indian Prime Minister Narendra Modi said globalization is giving way to protectionism at the World Economic Forum (WEF) on Tuesday.

The annual WEF meeting in Davos opened with the theme ‘Creating a shared future in a fractured world’.

Modi, the first Indian prime minister to speak at the meeting since 1997, said: “Opposite of globalization is happening. Globalization is losing its shine.”

Instead, he said, protectionism is gaining ground.

"Terrorism is dangerous. Worse is when people say there is a difference between 'good' and 'bad' terror," Modi said.

Swiss President Alain Berset said: "Today we face a whole host of major challenges. We are witnessing the emergence of geopolitical upheavals and instability in many parts of the world.

“We are witnessing protracted armed conflicts, which are destabilizing entire societies and economies, resulting in huge population movements and feeding terrorism. And then there’s climate change and global inequality."

Turkish Deputy Prime Minister Mehmet Simsek attended a high-profile meeting focused on bridging gaps in an increasingly fractured world. Turkey's Economy Minister Nihat Zeybekci is expected to join the meeting.

U.S. President Donald Trump, widely accused of starting or exacerbating several diplomatic rows, is also set to attend on Thursday and Friday.

Racist remarks by Trump at a meeting last week with U.S. lawmakers have drawn widespread international condemnation, making the U.S. leader even more unpopular worldwide.

More than 1,000 people gathered in the Swiss capital, Bern, on Saturday to protest Trump's attendance with banners saying “Kill Trump With His Own Weapons!”.

Several other demonstrations are planned in Switzerland in the next days by anti-Trump protesters.

Security for Davos is expected to cost nearly $10 million.

Over 3,000 participants from more than 110 countries and more than 340 public figures, including more than 70 heads of state and government and 45 heads of international organizations, will attend the forum.

Ten heads of state from Africa, nine from the Middle East and North Africa, and six from Latin America will join about 40 Western leaders including French President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, and British Prime Minister Theresa May in Davos.

UN Secretary-General Antonio Guterres with the heads of the UN agencies and the World Bank and the International Monetary Fund (IMF) will also attend.

The conflicts in Middle East including Syrian crisis will be discussed in a session with UN Syria Envoy Staffan de Mistura.

The Israeli-Palestinian issue will also be addressed, with Israeli Prime Minister Benjamin Netanyahu and Palestinian Prime Minister Rami Hamdallah both set to attend.

source: News Feed
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