Path of globalisation 'demands a course correction': Obama

US President stresses on growing inequality and countries pulling out from the global world

ATHENS: "Globalisation has brought many economic benefits to the world but needs a 'course correction' to address growing inequality," US President Barack Obama said Wednesday on his European farewell tour.

"The path of globalisation demands a course correction," said Obama in a speech in Greece.

He added that inequality in the global economy "now constitutes one of the greatest challenges to our economies and to our democracies."



The president has repeatedly referred to the anger that brought success to populist movements in Europe and the United States, such as the Brexit referendum and Donald Trump's surprise election.

"The impulse to pull back from a globalised world is understandable... but given the nature of technology it is my assertion that it's not possible to cut ourselves off from one another," Obama said.