Glocalization Rising: How Pandemic and Geopolitics Are Reshaping Globalization
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Globalization is fading as "glocalization" becomes more common - shorter supply chains and more domestic manufacturing capacity.
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The US and China are in an economic battle for supremacy, the gap between north and south is widening, and liberal democracy is being challenged.
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The climate crisis and rise of AI show global forces still shape the world, so globalization isn't dead yet.
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The pandemic, supply chain issues, inflation, and the Ukraine war have accelerated the shift towards glocalization and on-shoring production.
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Industrial policy is no longer taboo, even at Davos, as governments take a more strategic role in rebuilding domestic industry.