The End of Globalization as We Know It
Since 2008, rising economic, geopolitical, and climate risks, together with progress on automation, have fundamentally changed firms’ calculations regarding global value chains. While firms have reason to keep some production on foreign soil – if it cannot be automated at home – the reshoring trend is set to accelerate.
https://prosyn.org/ng5NoCx
MUNICH – As US President Donald Trump’s administration prepares to impose “reciprocal tariffs” on America’s trading partners, it is clear that firms can no longer assume that their business models will not be disrupted by new trade barriers – and even a full-blown trade war. Could this be the final nail in the coffin of globalization?