Globalisation is a blessing than curse: Swiss Prez

Emphasising that globalisation has been more of a blessing than a curse, Swiss President Johann N Schneider-Ammann has said that without industrial revolutions many people would have been deprived of social benefits and a more affluent life. While 2015 brought us endless flows of refugees, murderous terrorism and economic crisis, it would be a fatal mistake to react to this backdrop with resignation instead of resolve, he said. "Because if we look at the bigger picture, we also see well-functioning democracies, well-performing industries, blossoming new markets and growth," he said at the World Economic Forum (WEF) here. According to him, openness and restrictions are not absolutes. 

"As history has shown us, globalisation has been much more of a blessing than a curse... Without global economic growth, we could never have coped with the world's rising population," Schneider-Ammann said.