There was a time, not so long ago, when globalization seemed to herald the arrival of a new world order. As David Brooks pointed out, many assumed that greater prosperity, the adoption of more Western values, and a convergence among nations were given outcomes.
The Radical Reshaping of Global Trade
How companies can prepare for the new, fragmented, non-system that’s replacing globalization.
November 01, 2023
Illustration by Ricardo Santos
Summary.
The world is shifting from a global trade order to a devolved one in which bilateral agreements, multiple spheres of influence, and self-interested government policies are likely to loom large. Companies should prepare now for a new, fragmented, non-system that will operate in a “permissionless” manner, where organizations will leverage technology to provide coordination amongst stakeholders. The view of globalization as an arm-in-arm march forward has officially been shattered. As companies navigate the reality of new spheres of influence, and bilateral, rules-based trading agreements, those who can build organizations that are resilient and permissionless will benefit the most.