Six Reasons Why Globalization Can Survive Trump 2.0
By Steven Altman
The re-election of President Donald Trump in the United States has reignited fears - and hopes in some quarters - about globalization ending and going into reverse. Indeed, uncertainty about future trade policies has soared to the highest level on record. Amid such extreme uncertainty, business and public policy leaders face high-stakes decisions about how much to rely on international ties for everything from critical resources to growth and innovation opportunities.
While prudent decision-makers must take the threat of de-globalization seriously, it would be a mistake to presume that a major reversal of globalization is certain, or even that such a reversal is the most likely scenario to unfold in the coming years. Globalization can - and probably will - survive Trump 2.0. Why? Consider six reasons:
1) International flows have proven highly resilient through wave after wave of recent turbulence in the international environment. The global financial crisis, the UK’s exit from the EU, the U.S.-China trade war, the Covid-19 pandemic, and the wars in Ukraine and Gaza all prompted commentators to declare the end of globalization. But we have seen no general pattern of countries or companies retreating from international engagement and conducting more of their activity domestically.
Read the full The Korea Herald article.
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Steven Altman is an Research Assistant Professor in the Department of Management and Organizations and Senior Research Scholar and Director of the DHL Initiative on Globalization at NYU Stern’s Center for the Future of Management