Habik Plan to Revitalize Global Trade

Davos At the World Economic Forum (WEF), Federal Economy Minister Robert Habeck warned of a global economic recession — and called for promoting free trade as the best antidote. The vice chancellor said that there are currently several interrelated crises: “high inflation, the energy crisis, the food shortage and the climate crisis.” According to Habek, if none of these issues is resolved, there will be a risk of a “global recession”.

The vice chancellor said the response to crises is often more nationalism and more isolation. But this is the wrong way. The best answer is open markets, but with the new rules: the world needs to move away from the “unbridled globalization” of the past few years, and needs to “become better, more equitable and sustainable,” the minister told Handelsblatt on the sidelines of the World Economic Forum.