The Death of Globalization!

The three-decade era of globalization risks going into reverse according to company executives and investors. In this video we look at the economic evidence in a paper called Is the Global Economy Deglobalizing? by Pinelopi Goldberg of Yale University and Tristan Reed of The World Bank.

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[gossumx]

Patrick. Thanks for not being overhyping or one sided. Your format of “Here’s something that might happen. Here’s why it might not. Here’s something that might happen. Here’s why it might not” is better than any large news agency, bar none.

[IllIl]

22:20 "In complex areas like economics and geopolitics, there are no easy answers. There are too many moving parts, too many unknowns, and too many pros and cons whose merits can’t be easily weighed. There will never be a perfect answer and for that reason there is always a swing back and forth as different ideas are expressed."
Love this closing thought

[djl]

Roger & Me 1989 and don't forget this one either, In the second 1992 Presidential Debate, Ross Perot argued: "We have got to stop sending jobs overseas. It's pretty simple: If you're paying $12, $13, $14 an hour for factory workers and you can move your factory South of the border, pay a dollar an hour for labor, ... have no health care—that's the most expensive single element in making a car— have no environmental controls, no pollution controls and no retirement, and you don't care about anything but making money, there will be a giant sucking sound going south." Who is surprised by this????

[damiangowor]

Great video, Patrick. I would add two thoughts to it.
1. Change in trade of semiconductors, commodities and high-value-added technology may not be reflected in statistics but has more “weight” to many other products. Thus, a more detailed analysis may be required
2. Building factories, training people and restructuring the supply chain will take many years. A slow start may be misleading.

[dan_taninecz_geopol]

A masterclass in definitive "click bait" titling followed up by basically a solidly probabilistic and contingent argument. Good video.

[TheCrunchifiedOne]

One thing I like about this video is that you actually gave a summarising statement at the end which succinctly covered the main point from the video. I see so many YouTube videos where the video just ends and it feels abrupt.

[FrankLeeNacty]

YouTube algorithm, Patrick should be at 1 million subscribers.

[mazzdacon]

The town in Australia I was born in was plunged into poverty and despair by globalisation when an American company bought out the tool works that employed 800 people closed it down and and opened up in China. It is now one of the poorest local government areas in the country. Sure was a "win win" for everybody.

[apacheattackhelicopter]

Like so many things, international trade is good in moderation, but can become toxic if used irresponsibly

[CaptCanuck]

I'd describe what's currently happening as the beginning of a long-term trend towards diversification of globalization, as a risk management strategy.

[SeadogCVAhal]

My self-esteem is highly improved when I tell people I listen to Patrick Boyle

[madelainepetrin]

What bothers me most about corporations going for the cheapest is that we end up having huge amounts of garbage. Worse is the outsourcing of medical products to countries with poor records of safety. I have a can opener made in USA that is over 40 yo, Ray-Ban sunglasses that are 50+years. All in good condition and kept away from the dump. This comes from greed as the consumer price is the same, but the profit margin is in the 1000s% vs 20%.

[asdisskagen]

Patrick, your videos are always informative and fact driven but you really hit it out of the park on this one. Your rational, fact-based videos are at the top of my list for general economic reporting. Thank you for everything you do!

[X]

Globalization will never truly go away. There may be lower points of globalization, but it won't ever truly disappear.

[effingsix]

I always enjoy your videos, Patrick, even the ones where my eyes glaze over!

[ericlefevre]

Talk of reshoring, friendshoring, onshoring, ect. As an engineer with 12 years of experience working directly with manufacturing I can say this:

Talk is cheap. There is no manufacturing boom in the US.

[ericshang]

I think the deglobalization has begun. So far the globalization is actually western dominated globalization, and what’s happening is a switch from western centric to real ‘global’ centric where most countries would befit rather than a bounce of western countries.

[mikeroberts]

We have a saying where I live, “Sunday one day, Monday the next.”.

[jonasghafur]

the black friday cut scene got me good as always lol. Thanks for your videos, your reading list and general book recommendations single-handedly got me into finance and economics :)

[markrichardscaliforn]

Thanks!
Your thoughts
Do more then you think
I have deep depression
due to cancer and the effects
of radiation
I can borrow down into the darkness it easily.
Your very deep and thoughtful
comments engage my thinking part of my brain, therefore stopping that spiral of darkness.
And you are funny
Thank you.