8 February 2018
Speaker: Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank
Andreas Dombret asks whether, over the past forty years, global economic integration has been the “stairway to heaven” that it promised to be. He argues that today’s very far-reaching form of economic globalisation – for all its positive effects of economic efficiency gains and technological transfer – has had more negative repercussions and created fewer benefits than we expected. This mixed performance is one of several reasons behind the growing support for the populist backlash against globalisation manifested, not least, in the Brexit vote. Dr Dombret argues that, in future, we must focus our global harmonisation efforts on certain sensible and legitimate minimum standards, while leaving more room for institutional, legal and regulatory diversity between countries with different histories and preferences.
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