The_Guardian_-_2016-12-29

In November, Carney warned that European economies could be damaged if their access to the City
of London was disrupted after Britain leaves the EU. “The UK is effectively the investment banker for
Europe.”
Globalisation is leaving many behind
President-elect Donald Trump speaks during a rally in Orlando, Florida. Photograph: Evan Vucci/AP
Carney finished the year with a rallying cry to policymakers across advanced economies to tackle the
causes of a growing sense of “isolation and detachment” among people who felt left behind by
globalisation.
Speaking weeks after Trump won the US presidential race, Carney said: “From the rising spectre of
global terrorism to intensifying geopolitical tensions and financial crises, for too long, for too many
people, the world seems to be getting riskier … We need to move towards more inclusive growth
where everyone has a stake in globalisation.”
He also called for economists to be more honest about the price paid by some for technological
advances. “The fundamental challenge is that, alongside its great benefits, every technological
revolution mercilessly destroys jobs and livelihoods – and therefore identities – well before new
ones emerge.”
This article was downloaded by calibre from https://www.theguardian.com/business/2016/dec/28/mark-carney-bankengland-governor-2016-year-quotes
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