We Should Make AI And Blockchain Boost Global Trade
Globalization has been at a crossroads for a while. The dynamics of freer circulation of goods, capital and people has lost steam. Trade protectionism is on the rise. Multilateral institutions such as the International Monetary Fund, the World Bank, and the World Trade Organization (WTO) seem to provide slow and often insufficient responses to contemporary challenges. There are indeed various forces of “deglobalization” ranging around the world today.
At the same time, sophisticated technologies inaugurate a new era of threats and opportunities that holds the world in awe. The dawn of the Fourth Industrial Revolution heralds the transformation of professions and the likely end of many jobs as we knew them. Studies show robotics and automation, not cheap labor sources in Mexico or China, are mostly to blame for many deindustrialized sectors and towns in the U.S., Europe or South America.
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