Ukraine war and pandemic force nations to retreat from globalisation

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Opposition to globalisation gained momentum with the Trump administration's trade policies and "America First" drive

The result of all the disruptions may well be a fracturing of the world into economic blocs, as countries and companies gravitate to ideological corners with distinct markets and pools of labour, as they did in much of the 20th century.

For decades, executives have pushed for globalisation to expand their markets and to exploit cheap labour and lax environmental standards.

Your interdependence can be weaponised against you

The Ukraine war, he added, has "probably put a nail in the coffin of hyperglobalisation".

For decades, prominent US officials and strategists asserted that a globalised economy was a pillar of what they call the rules-based international order, and that trade and financial ties would prevent major powers from going to war. 

If you tie yourselves to each other, which was the European model after World War II, the disincentives would be so painful if you went to war that no one in their right mind would do it. Well, we've seen now that has proven to be false.

 "deeper, more diversified international markets remain our best bet for supply resilience"

Qn: Is globalisation to be welcomed or feared today? (Cam. 2019)