McKinsey November 22, 2023
As geopolitical currents swirl, we examine the implications for trade and options for business leaders to foster global connections.
The world today is deeply interconnected (Exhibit 1). The cross-border flows of trade, services, capital, people, data, and ideas that have marked the global economy for the past four decades and more—hitherto known collectively as “globalization”—have enriched the world, lifted more than a billion people out of poverty, and brought us to an unprecedented level of interconnectedness. But as CEOs and boards everywhere can now sense, these connections are fraying. This is in large part because of growing rivalries and tensions among nations, but also because of supply chain disruptions and a backlash against globalization in some parts of advanced economies....
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