A significant number of global business leaders have questioned whether globalization has done anything to tackle inequality or mitigate the issue of climate change, according to a new survey by the audit firm PwC.
For the past 20 years, CEOs have been largely positive about the contribution of globalization to the free movement of capital, goods, and people. However, this year's survey respondents are skeptical," the survey, released on Monday evening at the World Economic Forum in Davos, said.
The survey by PwC was carried out between September and December 2016 with 1,379 CEOs responding from 79 countries with a range of online, postal, face-to-face and phone interviews. Forty-four percent of respondents said that globalization had "not at all" closed the gap between the rich and poor. Just 13 percent agreed that it had helped this inequality "to a large extent". The rest implied that it had had some effect.
PwC contrasts the latest results with its survey from 1998 when CEOs were positive about the drivers of globalization. It also highlighted in the 2017 survey that only 60 percent of CEOs believed that globalization has had a largely positive impact on improving the movement of capital, people, goods and information.