𝙷𝚊𝚟𝚎 𝚆𝚎 𝙷𝚊𝚍 𝙿𝚎𝚊𝚔 𝙶𝚕𝚘𝚋𝚊𝚕𝚒𝚣𝚊𝚝𝚒𝚘𝚗?
The ongoing violence in Ukraine has prompted hundreds, if not thousands, of western companies to follow their governments in sanctioning or withdrawing from Russia.
That throws the trend of globalization — the increasing interconnectedness and integration of countries around the world — back into the spotlight, and begs the question: is "peak globalization" behind us?
That trend was accelerated by the pandemic, which made cross-border trade more difficult. Global trade was
52% of global GDP in 2020, down from
61% in 2008.
Even in an ideal scenario in which the violence in Ukraine somehow halted right this instant, the impact of what's happened in the last few weeks would likely take years, if not decades, to undo.
𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐
