Simon Lacey, former vice-president of Huawei, said on Monday that Globlisation was not over because economic rationale for it was very much there. He was speaking at WION Global Summit 2022: Mission Peace. The summit took place in Dubai.
While talking during the third session of the summit, Lacey opined that there was a realignment going on when it comes to Globalisation. The third session of the summit was titled ‘Trade wars: No long-term winners’.
“There is just too much money to be made by intergrating markets,” he opined.
But he noted challenges in the way of Globalisation.
Watch | WION Global Summit 2022: Experts emphasise on need for globalisation and an end to trade wars
When it comes to discussion on trade war, two countries are often mentioned: US and China. These two mega-economies often find themselves at odds with each other mainly due to political reasons.
Simon Lacey said that these two markets have common interests and they share a lot of points and objectives.
US and China may have broadly common economic objectives, the two countries have often engaged in trade wars with each other.
On Globalisation, Lacey conceded that deep integration between two countries is possible and easier when they share values that are common to each other.
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