Economist Warns of Globalization and Populism's Negative Impact

Economist Eswar Prasad has highlighted the adverse effects of globalization and populism, suggesting that these forces exacerbate each other's negative impacts. Bloomberg posted on X, emphasizing Prasad's concerns about the intertwined relationship between these global phenomena. Prasad argues that globalization, while fostering economic growth, can also lead to inequality and social unrest, which populist movements often exploit. This cycle, described as a 'doom loop,' poses significant challenges to global stability and economic progress. The economist's analysis underscores the need for balanced policies to mitigate these risks and promote sustainable development.