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Beyond that, rising trade tariffs and protectionism will increase prices of imported products.
除此之外，貿易關稅不斷上漲，貿易保護主義不斷強化還會抬高進口產品的價格。
This will undercut the actual value of wages' being forced higher by a relatively closed economy with reduced movement of labor.
這樣一來，經濟相對封閉、勞動力流動減少導致工資被迫上漲這一變化的實際意義就會打折。
According to the International Labour Organization,
而國際勞工組織的統計數據顯示，
there are approximately 66 million people between the ages of 18 and 24 who are out of work around the world.
全球年齡在18~24歲之間的失業人員就有將近6600萬。
That labor imbalance is particularly pronounced when you consider that there is an aging population in the West and Japan,
考慮到西方國家和日本存在老齡化問題，許多發展中國家25歲以下的人口比例卻高達70%，
while across many developing nations as much as 70% of the population is under the age of 25.
這一勞動力不均衡的問題便顯得尤為顯著。
A global policy that targets an optimal migration level could help businesses tap the world's entire labor market for talent and workers—
面向最優移民水平的國際政策有助于企業利用全世界的勞動力市場招聘人才和員工——
and help stave off steep inflation in the future.
并在未來幫助避免出現急劇的通貨膨脹。
The final shift is that governments will likely favor national champions—
最后一個轉變是各國政府會變得傾向于青睞本土冠軍企業——
companies that enjoy regulatory protections, tax breaks and subsidies that offer an advantage in their home markets against foreign competitors.
也就是那些享受著在國內市場為與外國企業競爭的本土企業創造優勢的監管保護、稅收優惠和稅收補貼等政策扶持的企業。
What results are corporate monopolies rather than competitive markets,
這種轉變帶來的不是競爭性市場，而是企業壟斷，
where the government becomes a bigger arbiter of who wins and who loses.
誰贏誰輸的決定權很大程度上就落到了政府的手里。
Ultimately, these companies gain outsize pricing power,
這些本土冠軍企業終將獲得極大的定價權，
which promotes larger and less efficient companies while disadvantaging consumers.
他們不僅會提拔規模更大效率卻更低的公司，還會將消費者置于不利處境。
PUBLIC POLICY has not allowed full globalization a genuine chance to “lift all boats.”
國家政策并沒有給全面全球化一個真正去“普渡眾生”的機會。
For example, U.S. politicians should have backed a big investment agenda in infrastructure, schools and skills
舉個例子，美國的政治家們本應該支持大力投資基礎設施、學校和技能等領域，
to usher in a new economic era on the back of the wealth earned from globalization.
用全球化給他們帶來的財富開創一個經濟新時代。
Instead, it continued to provide low-interest loans to middle America, especially to support homeownership;
相反，它繼續在走給中產階級提供各種低息貸款，尤其是住房貸款的老路，
these debt programs gave people the illusion that their livelihoods were improving
這些貸款則會給人們造成一種生活水平已經有所改善的錯覺，
even as their wages were falling and debt obligations were rising.
而事實上，他們不僅工資在縮水，債務還在增加。
And politicians around the world should have ceded real power and authority to global institutions, like the World Trade Organization,
此外，世界各地的政治家們本應把實權和權威都讓給世貿組織這樣的國際性機構，
which are still superseded by the policy agendas of national governments
事實上，這些機構反被各國政府的政策綱領頂替了，
and thus struggle to implement an agenda that benefits everyone across the earth.
因此，它們要推行一項惠及全球的議程會十分艱難。
While the current proposed protectionist policies are understandably appealing in the short term,
綜上所述，從短期來看，當前提出的保護主義政策的確很有吸引力，
they stand to limit growth for companies and countries.
但它們終將限制企業和國家的發展。
Left unchecked, the result will be more destruction of the global economy and greater despair
任其發展，全球經濟只會遭受更嚴重的破壞，
as well as unrest, conflict, corruption and a sense of utter hopelessness worldwide.
國際社會只會陷入更深的動蕩、沖突、腐敗，絕望和無助。
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