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Macron Calls from Davos to Limit Negative Effects of Globalization

Macron Calls from Davos to Limit Negative Effects of Globalization

Wednesday, 24 January, 2018 - 19:00
French President Emmanuel Macron. (AFP)

French President Emmanuel Macron urged on Wednesday for increased efforts to limit the negative effects of globalizations.

Speaking from the World Economic Forum (WEF) in Davos, he urged for a “global compact” that would stand against globalization, warning against a race to the bottom on taxes and regulation.

Speaking a day before Donald Trump arrives at the annual gathering in the Swiss Alps, Macron did not mention the president by name, but joked about the heavy snowfall, saying it might lead some people to question climate change.

“Fortunately you didn’t invite anybody skeptical of global warming this year,” Macron said to WEF founder Klaus Schwab, on the stage with him.

Macron also revealed that France will set up a 10 billion euro ($12.4 billion) fund to finance innovation and research.

He said that he wants to make innovation the "centerpiece" of his economic policy.

In addition, he stressed that the European Union needs to reform itself this year to be able to compete with big powers like China and the United States.

Macron said that "more ambitious" EU countries must be able to move toward more European integration, even if other European countries don't want to join in.

He said: "The less ambitious should not block the more ambitious in the room."

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