Larry Summers

In statistical terms, 2016 was a year of continuity for the world economy, as performance was quite similar to that of recent years. The big changes were political, as a widespread anti-globalization movement signaled a breakdown in a consensus among most political leaders that had held since the end of the World War II. It used to be generally accepted that reducing trade barriers increases prosperity and promotes peace, benefiting investing and recipient countries and promoting international cooperation in solving problems around the world. Almost all of this was called into question in 2016. Read the full New York Times Turning Point article.