In this Aug. 21, 2015 photo, a man works amid orange robot arms at Rapoo Technology factory in southern Chinese industrial boomtown of Shenzhen. (AP Photo/Vincent Yu)
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Governments stung by the political backlash from disgruntled voters left worse off by three decades of globalization are now scrambling for solutions, but there is no easy fix and the populist remedies on offer risk making things even worse, analysts say.Globalization has been a boon for many, but western elites should have addressed its inequalities much earlier instead of sweeping them under the rug.The issues of growing income inequality and what to do about it are likely to dominate discussion when political and business elites gather in Davos next week.Even before taking office, Trump threatened protectionist measures against Chinese and Mexican imports and claimed credit when automaker Ford and others dropped plans for new investment in Mexico.European governments are also scratching their heads. Such initiatives can be seen as forms of mild isolationism, but OFCE's Timbeau suspects there may be a new form of economic selfishness at work.Whatever cure is attempted, 2015 Nobel prize winner Angus Deaton warned in a recent article, governments must ensure it's not worse than the disease.
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