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Why are We Trending Towards Deglobalization?
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In a recent Harvard Business Review article that I read, it focused on the trends towards deglobalization. What are the two reasons that they gave for it? This current pandemic and trade wars. Watch today's #MorningMusing to get more information.
Transcript:
What is Deglobalization
What is deglobalization? The other day, I read an article in the Harvard Business Review about deglobalization, and as you can guess from the name, it is an undoing of globalization. Based on the opinion of this article, deglobalization is based on different trends that we have right now. One of the two trends that this article focuses on is the pandemic since the global supply chain has been interrupted. COVID-19 has exposed the vulnerability of the global supply chain when just-in-time production doesn't seem to be just in time when you need it.
The second trend pointed out is the trade war or “cold war” with China as it is referred to in the article, where all countries involved, seem to be retaliating against each other. Just go back to a few Morning Musings ago where now Australia and China are getting into a trade war. Together, those two trends will lead us to a deglobalized world for short, as the article indicates. In my personal experience, it is a good idea to look around your own house and office and find a product that is only made in one country.
Most consumer products, business products, cars, most things in general are made from products from multiple countries and are assembled in one country, designed in another and sold in another. Who has a real interest in globalization? Well, in the opinion of the article by Harvard Business Review, it is China. The article reminded me of the new silk road initiative, where China is pushing for a new silk road by 2049 which will enhance trade to over 70 countries. So while we in the western part of the world may believe that globalization is not good, the countries who are our current opponents, actually appear to be believing in globalization and placing a major emphasis on trading. What will globalization bring? Only time will tell.
#263, August 2020, deglobalization, trade war, China, silk road, cold war, Harvard Business Review.
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Transcript:
What is Deglobalization
What is deglobalization? The other day, I read an article in the Harvard Business Review about deglobalization, and as you can guess from the name, it is an undoing of globalization. Based on the opinion of this article, deglobalization is based on different trends that we have right now. One of the two trends that this article focuses on is the pandemic since the global supply chain has been interrupted. COVID-19 has exposed the vulnerability of the global supply chain when just-in-time production doesn't seem to be just in time when you need it.
The second trend pointed out is the trade war or “cold war” with China as it is referred to in the article, where all countries involved, seem to be retaliating against each other. Just go back to a few Morning Musings ago where now Australia and China are getting into a trade war. Together, those two trends will lead us to a deglobalized world for short, as the article indicates. In my personal experience, it is a good idea to look around your own house and office and find a product that is only made in one country.
Most consumer products, business products, cars, most things in general are made from products from multiple countries and are assembled in one country, designed in another and sold in another. Who has a real interest in globalization? Well, in the opinion of the article by Harvard Business Review, it is China. The article reminded me of the new silk road initiative, where China is pushing for a new silk road by 2049 which will enhance trade to over 70 countries. So while we in the western part of the world may believe that globalization is not good, the countries who are our current opponents, actually appear to be believing in globalization and placing a major emphasis on trading. What will globalization bring? Only time will tell.
#263, August 2020, deglobalization, trade war, China, silk road, cold war, Harvard Business Review.
Welcome to our channel!
Our globally active team of attorneys
Our regional practice areas include the United States, Canada, Germany, France, Luxembourg, Italy, Austria, and Switzerland. We are represented in other locations of the world either through our own offices or partner offices within the Bridge Alliance. We know that foreign language skills, cultural understanding and access to expansive networks can make all the difference. Our advisors possess far-reaching personal and professional networks in these regions, and we are pleased to provide our clients with the connections needed to advance their own business interests.
US Location Charlotte NC
Phone: (980) 219-5200
Like us on Facebook @BridgehouseLaw
follow us on Twitter @BridgehouseUS
Find us on LinkedIn: BridgehouseLaw LLP
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