ENA Knowledge Resource 2017-10-27 08:33:55 <p><strong>New Delhi, Oct 27 (KNN) </strong>The Asian economies are to lead the global scenario with new initiatives planned to refinance international dynamism, Dr. Mukhisa Kituyi, Secretary-General, United Nations Conference on Trade and Development (UNCTAD) said.</p> <p>Kituyi, made the following remarks delivering a lecture on Globalization and its Challenges to the Trade and Development Agenda organized by Federation of Indian Chamber of Commerce and Industry (FICCI) and Consumer Unity &amp; Trust Society (CUTS) International in the national capital.</p> <p>He said that the problems of globalization could be solved without taking away the dynamics of globalization.</p> <p><iframe frameborder="0" height="315" src="https://www.youtube.com/embed/WoseSte-x-0" width="560"></iframe></p> <p>Voicing concerns in the recent times, he said that the world has witnessed two major economic issues in the last decade, first is the global crash of 2007-08 which distorted the international trade and second is the rise of the left politics in Western Europe and America which led to steady erosion of the welfare state.</p> <p>He also said that international trade is easy to attack because it is simple to explain in a populist way to an average consumer of political ideology.</p> <p>He added that erecting boundaries and xenophobia is gaining currency in international relations and mercantilist self-interest has led to the search for bilateral trade agreements in a zero sum game.</p> <p>Trade has lifted nearly a billion people out of extreme poverty in India and China, and trade should be structured in such a way that it doesnt erode the livelihood of vulnerable people, he added. <strong>(KNN/AG)</strong></p> 18295 http://knnindia.co.in/news/newsdetails/knowledge-resource/asian-economies-to-lead-with-new-initiatives-to-refinance-international-dynamism-unctad 2017-10-27 08:33:55 knnindia.co.in