10 Goodbye globalisation
three body-blow of globalisation
the financial crash in 2008
Sino-Ameican trade war
covid-19 the pandemic
the demise of Lehman Brothers
Trade and foreign investment stagnated relative to GDP
"Slowbalisation"
a new wave of disruption has spread westward
anarchy of global governance
fettered movement
people
goods
capital
what to expect
the trading system will not be more humane or safer
harder to solve global problems
wave goodbye to globalisation
immigration is further curtailed
"travel bubble" only includes countries with similar health protocol
the disruption to travel will be lasting
taxpayers are asked to underwrite national firms
supply chains are expected to bring back home
Digital trade is not enough
Chinese venture-capital investment in America sinks
Multi-national firms cut their foreign investment
many countries have tighten their rules on foreign investment
overall the effect of the pandemic is savage
America has refused to act as the world's leader
China is also unwilling to pick up the mantle