Recommended Watch: The globalization backlash: A new world economic order? | Business Beyond
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After World War II, rising consumerism and a reduction in trade barriers led to an ever more deeply connected and interdependent global economy. As more goods got to more people more quickly, the United States emerged as the world’s undisputed economic superpower.
But in recent years, there’s been a backlash to American-powered globalization. The turmoil and uncertainty unleashed by the financial crisis of 2008 was followed by a rise in populism and protectionism around the world. Recent events, including the Covid-19 pandemic and Russia’s war in Ukraine have exposed further fractures in the global economy. This has led to a debate about an alternative economic order. China's rapid rise, as well as the establishment of economic alliances like BRICS (Brazil, Russia, India, China and South Africa) have led to speculation that the era of US-dominated globalization could be coming to an end. In this edition of Business Beyond, we ask: has globalization had its day, and if so, what will come in its wake?
00:00 Intro
01:48 A unipolar world, coming undone?
03:48 The big question: China
06:03 An alternative alliance? The BRICS
07:59 Stuck in the middle – India
10:31 Breaking up the old order - Russia’s dream
12:43 The battle of the superpowers - two systems or one?
14:32 Conclusion: A new order?
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#Globalization #Pandemic #UkraineWar
But in recent years, there’s been a backlash to American-powered globalization. The turmoil and uncertainty unleashed by the financial crisis of 2008 was followed by a rise in populism and protectionism around the world. Recent events, including the Covid-19 pandemic and Russia’s war in Ukraine have exposed further fractures in the global economy. This has led to a debate about an alternative economic order. China's rapid rise, as well as the establishment of economic alliances like BRICS (Brazil, Russia, India, China and South Africa) have led to speculation that the era of US-dominated globalization could be coming to an end. In this edition of Business Beyond, we ask: has globalization had its day, and if so, what will come in its wake?
00:00 Intro
01:48 A unipolar world, coming undone?
03:48 The big question: China
06:03 An alternative alliance? The BRICS
07:59 Stuck in the middle – India
10:31 Breaking up the old order - Russia’s dream
12:43 The battle of the superpowers - two systems or one?
14:32 Conclusion: A new order?
Subscribe: https://www.youtube.com/user/deutsche...
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewell...
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#Globalization #Pandemic #UkraineWar
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Francisco Gimeno - BC Analyst Globalization was the buzz word for many years, and even more after the fall of the URSS. An unipolar world was born and US the indisputable leader. After the big crisis of 2008, COVID, and the economic woes, problems with logistics and supply chain and abrupt geopolitical shifts, we don't know what to think anymore. It seems China wants the role of leadership or at least being one of the two main world powers, taking care of the slow fall of US in global affairs. BRICS States also want their opportunity, and they are rich in people, if not in economic means. Russia, of course, a minor great power now, wants its size of the cake. In short, the possibility of having a multipolar order again is greater than ever. China having its sphere of influence, and BRICS and Russia the same, with some countries like India being here and there with the time. The fronts will be undoubtedly in Africa, East Europe and in the mess of Arab world politics. We will adapt and continue, and new ways (maybe copying old ones) of trading and sharing will start. The digital economy is the one which will put everything together at the end.