Former U.S. President Barack Obama called on democracies around the world to do more to push back the tide of authoritarianism.
"We will also have to be willing to look squarely at the shortcomings of our own democracies," Obama said."Not the ideal, but the reality of our own democracies. Only then will we be able to develop a better story of what democracy can be and must be in this rapidly changing world."
The U.S. and other democracies, Obama said, are faced with a"contest of ideas" in which Chinese authoritarianism, in particular, appears"a model of orderly advancement and material improvement in people's lives." "We are going to have to rebuild our democracies and their institutions," the former president said,"so they work better for more people for this new age."
"The version of capitalism that has come to dominate the global economy has also come to corrode democracy," the former president said, noting the"far-flung mega companies operating beyond the reach of national regulation or oversight for tax collection."
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