"There's a real risk of a recession in the U.S.," said a professor at the University of Oxford. "The U.S.' unilateral actions to slow trade will lead to increased costs. Inflation will go up, and jobs will be lost as supply chains are disrupted."

by Xinhua writers Zeng Yan, Miao Xiaojuan

BOAO, China, March 28 (Xinhua) -- Ian Goldin, professor of globalization and development at the University of Oxford, has warned that the United States' retreat from globalization is a mistake that will harm both its own economy and global stability.

In an interview with Xinhua at the Boao Forum for Asia on Wednesday, Goldin expressed his concerns about growing protectionist sentiments in the United States.

Goldin criticized recent U.S. actions, particularly its decision to withdraw from the World Health Organization, a move he believes will heighten global health risks. "We will have more risks of pandemics," he said.

In its latest move, the United States has reportedly suspended its financial contributions to the World Trade Organization.

The professor also emphasized the risks protectionist measures pose to the U.S. economy, warning that the Trump administration's trade policies could push the country into a recession.

"There's a real risk of a recession in the U.S.," Goldin said. "The U.S.' unilateral actions to slow trade will lead to increased costs. Inflation will go up, and jobs will be lost as supply chains are disrupted," he said.

On the broader geopolitical landscape, Goldin said the U.S. global leadership is rapidly diminishing. "The U.S. global leadership is declining dramatically," he said, citing the nation's diminished influence on the Global South.

He also voiced concerns about the country's expansionist claims, saying that its goals of owning Gaza, Greenland or the Panama Canal are "tearing up the international order."

The professor is upbeat about Asia's prospects, noting that Asia now represents half of the global economy, growing at an average rate of 5 percent, compared to a much slower growth rate in the West.

"Europe and Asia must cooperate if they want to thrive in the future," he added.

Having visited China regularly since 1984, Goldin hailed China's remarkable progress and growing influence in global affairs. "China has become an advocate of globalization, while the U.S., the original advocate, is retreating," he said.

While recognizing that some countries have resorted to protectionism in response to globalization, he praised ASEAN and China for successfully integrating into the global economy. "This is where globalization is alive and well," he said.

Goldin also lauded China's role in global governance, saying that the country "understands the need for global cooperation, for its people and the rest of the world."