From automobiles to x-ray machines, and probably including the device you are reading this article on, the devices and appliances we use are manufactured in, or contain components from, countries around the world. Not only do today’s supply chains stretch to all corners of the globe, but flows of capital, people and to some extent cultures also converge across borders.
Despite the world being more interconnected than ever before, what we now call ‘globalization’ may be under threat – or so it’s been suggested in the wake of the Brexit vote and the pronouncements of Donald Trump.
In three recent webcasts titled 'The Future of Globalization', IMD’s Professor Stéphane Girod defines what we mean by globalization, considers the threats to it, and offers advice to businesses looking to the future:
CLICK ON THE LINKS BELOW TO VIEW THE THREE WEBCASTS
Part 1: What is Globalization?
This looks at globalization from a historical perspective, explaining how it has developed and how it affects economic activity, culture and society today.
Part 2: Is Globalization Unravelling?
Many signals suggest we are in a transition phase – slow economic growth, migration, U.S. isolationist talk, political shifts in the West, the rapid growth of China and India – how will all of this pan out?
Part 3: Moving Forward the Impact for Business
What would it mean if globalization did unravel? Prof Girod suggests that businesses cannot afford to remain passive. Rather than leave it up to politicians, businesses need to act to save globalization from itself.