Wednesday 7 December 2016

Globalisation may have a bad rap - but it's working for us

Published 10/07/2016 | 02:30

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'Click to enlarge'
'Click to enlarge'

Globalisation is getting a bad rap at the moment. It is being widely blamed for voters' rising anger towards 'establishment' parties and policies. The latest example is the Brexit referendum. I look at the politics of anger in my column in the main section of the paper, but here let's consider economic and business-related issues around a pillar of globalisation.

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The annual World Investment Report by the United Nations Conference on Trade and Development (UNCTAD) was published recently. It brings together data on the activities of multinationals, as well as analysis on current and future trends. And last week, IDA Ireland - the entity tasked with luring foreign direct investment (FDI) into Ireland - published its half-yearly statement. For an Irish readership, there was plenty to cheer in both.

As readers of these pages will know, Ireland is one of the most internationalised economies in the world. Globalisation has worked very nicely for us, with more of its benefits accruing to this economy than many others.

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