In an interview with DI at the World Bank’s annual meeting in Washington DC, finance minister Magdalena Andersson says she is concerned about protectionist tendencies across the globe. “The big discussions are about what happens to global trade. There are signs that it is slowing. This could be due to the economic cycle but there are other reasons, such as the many countries undertaking more protectionist measures just now.”
She points out that this is not great from a Swedish perspective as it is a small, open economy. “Our welfare is based on there being the potential to trade,” she says.
She continues, “Not all individuals benefit from the world as a whole growing richer and we therefore must have policies that can compensate for that. Politics has failed there, especially here in the USA.” She considers this to be one of the reasons there is strong support for Donald Trump in the coming presidential election.
She is concerned about economic development if Donald Trump becomes president and points out that there is a huge difference between a leader in the USA with political experience and one without political experience who is, furthermore, extremely impulsive.