PM Modi criticised reversal of globalisation at Davos

Following Prime Minister Narendra Modi’s opening remarks at World Economic Forum (WEF)  at Davos about “forces of protectionism” on Tuesday, US President Donald Trump has said that America would come “first” but would not be “alone” during a speech at the same platform in Switzerland.

Prime Minister Modi  had said, “The forces of protectionism are raising their heads against globalization. Their desire is to not only save themselves from globalization, but to reverse the natural flow of globalization altogether.”

Trump welcomed the foreign investors to continue investment in US, which is “open for business”.  Trump appeared to soften the populist-isolationist rhetoric for which he is known.

His presence in Davos was marked with several protests and world capitalism at several sites in Switzerland. Some 20 demonstrators broke through security at the Davos Congress Centre where they held signs reading ‘Wipe out WEF’.

In Zurich, northern Swiss city, demonstrators held signs saying “No Trump, no coal, no gas, no fossil fuels” as they marched through the city’s financial district.

Geneva also witnessed protesters placing a memorial wreathe for Heather Heyer, a counter protester killed by a white nationalist at a US far-right rally in August, at the entrance of the US diplomatic mission.

Trump claimed that he is growing US economy under his presidency. “I’ve always been very successful at making money,” saying that stock market was up by 50 percent.

If his 2016 presidential opponent Hillary Clinton had won, Wall Street would be “down close to 50 percent”, Trump said. Removing regulations has been a boon to the US economy, the president continued.

Prime Minister Narendra Modi, while addressing WEF at Davos said, “Many societies and countries are becoming more and more insular. The downsides of these types of attitudes and misplaced priorities are no less significant than the threats posed by climate change and terrorism.”

In January 2017, US President Donald Trump, at his inauguration, was quoted saying, “From this day forward it’s going to be only America First”. He pledged to end what he called an “American carnage” of the rusted factories and crime.

Before reaching Davos, Trump invited his followers to see his speech live through his tweet post.