Globalization has come in for increasing criticism over the last year, being blamed for massive job losses, increasing inequality and the rise of populism across the West. But are the judgements fair?

According to a recent study, four out of five jobs lost due to globalization have been sacrificed to technological change rather than trade. What else have we learned about globalization, and how can we improve its governance to ensure benefits are widely spread?

Winners and losers

Kevin Delaney, Editor-In-Chief of Quartz, begins by mentioning an online survey carried out for the session. Of 1,400 responses on Facebook, 73% believed globalization is a net positive for societies. However, there have been obvious winners and losers, Delaney says.

Author Dambisa Moyo adds that “there continues to be massive protectionism, and we know that trade has been declining.” There have been losses particularly for agricultural jobs, “due to caps," and significantly for middle classes in the US.

“I feel that things are based on national interests, and not on a global agenda.” she concludes.

Technology's impact

“We should not be scared of technology," says Swedish Prime Minister Stefan Löfven. "We should educate people on computers and give incentives”

Abidali Neemuchwala, CEO of Wipro, says the pace of change has been incredibly quick. “There hasn't been enough time to adjust to the speed at which technological change that has happened.”

Bradford Smith, President and Legal Officer of Microsoft, adds that “35 million additional jobs in 26 years is very good progress.” However, there has been a drop in jobs for lower education jobs - we need a solution, he suggests.

Skills building

All panelists agree that by improving skills training for workers, “particularly soft skills where computers will lack.” It is a big mistake to think the world needs more digital skills, Bradford Smith comments.

Language training will also be fundamental in a more global market, says Stefan Löfven.

Dambisa Moyo suggests that “if you want globalization to work, you need a broader frame in which to operate.”