Protectionism is gaining ground and globalisation is losing its appeal, but India is open for business, Indian Prime Minister Narendra Modi told the World Economic Forum on Tuesday. “Instead of globalisation, the power of protectionism is putting its head up. During his 2016 election campaign, Trump blamed globalisation for ravaging US manufacturing jobs as companies sought to reduce labour costs by relocating to Mexico and elsewhere. Modi said climate change was a major threat to the world, yet the world had failed to come together to tackle it. He said everyone wanted carbon emissions to be cut, but the rich world was not ready to help developing economies with new technology.

Source: Pakistan Today January 23, 2018 12:11 UTC