October 26, 2016
Martin Wolf asks “Is globalisation reversing?” And answers “No, but it has lost dynamism… partly because opportunities for expanded processing trade have diminished, and partly because the era of large-scale trade liberalisation is over.” “Sluggish global trade growth is here to stay” October 26.
Indeed that matters, but Wolf refuses to acknowledge that the economies could also have lost much dynamism, because of credit access protectionist regulations, applied globally, that have banks refinancing more the “safer” past and present than financing the "riskier" future.
How can Wolf ignore that? I haven’t the faintest Sir; you must of course know him much better than I.
Anyone besserwissing I can besserwiss better, I can betterwiss better than you, Mr Wolf.
PS. Here again is an aide memoire on some of the monstrous mistakes of the risk weighted capital requirements for banks.