Article source
Wall Street Journal
Article date
Sat, Jun 24, 2017
ZURICH—The Bank for International Settlements warned Sunday that rising protectionist sentiment and a retreat from global cooperation on economic matters would threaten the world economy.
“Rolling back globalization would strike a major blow against the prospects for a sustained and robust expansion,” said the BIS, a consortium of central banks based in Basel, Switzerland, in its annual report.
BIS chief economist Claudio Borio put it bluntly: “Rolling back globalization would be as foolhardy as rolling back technological change.”