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He also spoke on the benefits of the free movement of people to bring an influx of much needed skills both to developing and developed economies. Silicon Valley, he noted, is in desperate need of skilled immigrants.
Professor Bhagwati also mentioned the political problems associated with increased trade – for example the argument that the removal of trade barriers depresses wages in the US. But he argued that it is in fact technology which is creating this unstoppable change.
As an illustration of the minimal threat posed to developed countries by skilled workers from India, he noted that it is only the young who realistically have access to education. Of these, only perhaps 8% go to college, even fewer have tuition in English, and even fewer again attain an acceptable level of English
He said that it is the responsibility of the western world to help meet the demand for skills in the developing world. He argued that this represents far greater support for developing countries than the provision of purely financial aid currently practised by western countries which creates cultures of dependency.
This developmental challenge is mirrored in institutions worldwide. The cost of education is far too high because of an over-reliance on traditional teaching. He called for both society and educational establishments to recognize the need to decrease excess and increase access. Online teaching will have a significant impact on this, and as technology becomes more widespread, it will benefit developing countries. He noted that specialized knowledge stemming from developing cultures will also benefit the developed world.
Watch presentation on ICDE YouTube channel Profile of Professor Bhagwati