Radical rethink of globalisation needed to stop backlash: OECD

Tokyo

URGENT action is needed to prevent the backlash against globalisation from strengthening, leading to possible "unwinding" of the process, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday on the eve of a major ministerial meeting in Paris.

There is a "risk of a damaging retreat from economic openness if policies do not change", the OECD said as foreign, trade and finance ministers from the organisation's 35 member countries gathered for a Ministerial Council Meeting in Paris.