Group CEO, FLSmidth
Christian Friis Bach
Executive Secretary, United Nations Economic Commission for Europe
Associate Professor of Economics, University of Warwick
Associate Professor, Department of Business and Politics, Copenhagen Business School
How can Denmark prosper as a small open economy in a closing world?
The foundation of global trade is changing. After decades of increasing economic integration, Western societies are experiencing a backlash against globalisation. As countries work towards national rather than global agendas, the international society is in danger of facing change in its most treacherous form; when progress is suddenly eroded or even destroyed. This leaves Danish policymakers and corporate leaders with a pressing question: Would Denmark be able to withstand such changes?
It is unlikely that this question will remain hypothetical much longer. Countries who once championed globalisation are now turning against it. The USA has elected a president who vowed to put America first, and Great Britain voted to leave the EU. In many Western societies, large groups of citizens feel left behind in a rapidly changing world. They are not convinced by economists who argue that globalisation has increased the general standard of living across social groups. This has led to public support for protectionist policies which may ultimately prove harmful to nations who choose to implement them. How should policymakers address similar sentiments among Danish citizens?
These developments constitute a grave threat to the Danish economy, which has flourished in a globalised world. However, while Danes generally view globalisation positively, international trade requires other countries to trade with. Many of our largest trade partners depend less on us than we do on them, and should they resort to protectionist policies, the consequences are likely to be severe for the Danish economy. How can we continue to prosper from international trade if our trade partners wish to limit it?
Successfully addressing the challenges of being a small open economy in a closing world requires a combined effort from many different stakeholders. At Aarhus Symposium Focus 2017, a panel of competent speakers with diverse academic backgrounds and experiences will discuss these challenges. We encourage you to join the discussion on October 30, 2017.
Aarhus Symposium Focus 2017 will be held on October 30, 2017 at Aarhus University, Aarhus BSS.
Fuglesangs Allé 4, 8210 Aarhus V.
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