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