As the U.S. election campaign enters its final weeks, President Barack Obama has penned as essay in the Economist defending immigration, innovation, globalization and free trade, while adding that more help is needed for those who have suffered in the changing economy.
Noting that “the world is more prosperous than ever before and yet our societies are marked by uncertainty and unease,” the president wrote that, “it is important to remember that capitalism has been the greatest driver of prosperity and opportunity the world has ever seen.”
In his essay Thursday in the Economist, a 173-year-old British newspaper which openly advocates for free trade and free markets, the president vowed to pass major trade deals with Asian and South American countries, as well as the European Union.
“While some communities have suffered from foreign competition,” he said. “Trade has helped our economy much more than it has hurt.”
Today is also the opening day of the biannual meetings of the World Bank and International Monetary Fund (IMF), where economic and finance leaders from around the world meet to discuss trends.
