Facing the facts about trade: Why people are angry and what we need to do about it

Adapted from speech on the occasion of receiving the 2017 Bill Frenzel Champion of Free Trade Award, courtesy of the Economic Club of Minnesota
Secretary-General of the OECD

We have to begin by acknowledging that many people are unhappy. And rightly so. In the wake of the crisis, life has not been getting any better for a lot of them. They are worried that their children's lives will not be better than their own. They believe that the system is not working for them; they feel that it is unfair; and there is increasing evidence that many of them may actually be right. 

We need to take these concerns seriously and make them our own. The OECD has been trying to do just that.

Bill Frenzel Champion of Free Trade Award. Read full speech at www.oecd.org/trade/facing-the-facts-about-trade.htm.  

©OECD Observer April 2017

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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