Davos, Jan. 21 -- US Commerce Secretary Howard Lutnick said that globalisation is a failed policy and has failed the West and the United States, asserting that the Trump Administration is very clear that the existing global economic model has left American workers behind.

Speaking on the sidelines of the World Economic Forum in Davos, Lutnick said the policies followed by the West for decades were built around exports, offshoring, and finding the cheapest labour worldwide, but the outcome has been damaging to domestic industries and workers in the US.

"We are in Davos at the World Economic Forum, and the Trump administration and myself. We are here to make a very clear point. Globalisation has failed the West and the United States of Am...