Has Globalization Backfired? Podcast

For a period of time, going global just seemed to make sense. But with China’s rise, Covid-19, and the war in Ukraine, words like “localnomics,” “friends-shoring,” and “decoupling” have helped codify a growing movement that calls for less interdependence between economies. Those in favor of a more “deglobalized” system of trade argue that it is not only more environmentally friendly and responsive to regional needs, but also less of a driver of income inequality. Indeed, globalization’s three-decade trend of trade growing at twice the speed of the world economy has not lifted all boats, they argue. For many, including middle-income populations in the industrialized west, it has backfired. Deglobalization is a welcome a shift. Others disagree. Globalization’s virtues are unmistakable, they say, resulting in less poverty and higher incomes across the world. People once cut off from markets benefit from new connections in commerce, culture, and communications. For them, it has not backfired. In fact, in the face of political challenges and volatile markets, more regionally-focused trade constitutes a dangerous circling of the wagons. In this context, we ask the question: Has Globalization Backfired?
This debate is presented and produced in partnership with YPO EDGE and will take place in front of a live audience, at the YPO EDGE convention.
"YES" Debater: Rana Foroohar, Global Business Columnist, Financial Times; Author, “Homecoming: The Path To Prosperity In A Post-Global World”
"NO" Debater: Parag Khanna, Founder & CEO of Climate Alpha and Founder & Managing Partner of FutureMap
#opentodebate #debate #globalization #supplychain #trade #traderoutes #shipping #China #RanaForoohar #Parag Khanna #worldeconomy #global #trade #decoupling #industrialization #ecommerce #culture #markets #populations #globalbusiness #GlobalBusinessColumnist #YPOEDGE #YPO #climate
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[@roman9509]

Actually the world has been de-globalizing since 2008, welcome to the party

[@camerondeans9056]

Well that's just not true

[@marcl.1346]

45:05 Here is the point where he misses the ball. He is basically describing the idea of "wandel durch handel" (German for ideological, value or norm change through trade). This was exactly the thing ex German chancellor Angela Merkel used as a defense for being so reliant on Russia. she assumes that, yes Putin is a dangerious autocrat, but through trade we can bring him in to the democratic and liberal-minded fold. Since the 20th of February 2022 we know that has failed. There are many instances where it actually has worked but now we know it's not some fix all solution that many thought it once was. In short, his point is incorrect and even shows exactly where Globalism has backfired.

[@fortunen8467]

oooooh!!! Where is the video? I just saw the teaser

[@OpentoDebate]

Hello, here is the link for the live debate video: kzbin.info/www/bejne/iXbZe5ecoK-moLM. Thanks for watching!

[@fortunen8467]

@@OpentoDebate Thanks

[@shmutube]

Just a little something to keep in mind: Globalism ≠ Globalization. That's all, carry on...

[@kittykatzcenteno7160]

??

[@paulhodgers]

Something Something elites Something Something something or other.

[@claudiaxander]

Global trade should fuel humanitarian progress. Funding governments by purchasing their Goods and services that are cheap due to slavery ,terrible work conditions, child labour etc will only encourage said government inhumane policies. We must always use purchasing power as leverage for progress: Goods for Good. Maybe tie all business relationships to a 'Psychopath Test' for those in management positions; both political and commercial. (note: narcissism and sociopathy are all in the psychopath spectrum) Test refusal an admission of guilt.

[@Hello.Sailor]

Eh. Really globalization and progress are inextricably linked. Consider microprocessors, the manufacture of this technology is incredibly precise and even more complex but the supply chain necessary to facilitate the technology requires an order of magnitude greater precision and complexity. It is not an exaggeration to state that no country is capable of producing them without globalization -not nor, not in the future.. I don't believe Ms Foroohar appreciations how many computer chips are out there, how many dozens of times a day every individual in America interacts with a unique device reliant upon them, and to the degree upon which reliance upon this technology is now total. Nor is this some unique reality for the US. China is every bit as reliant and even less able to shoulder such burdens independently. Conditions will change and I certainly hope a more locally sources focus becomes dominant, but these things are not mutually exclusives. Markets are dynamic and we entering an era of co-opitition.

[@dave4deputyZX]

This guy came to the wrong debate, he keeps arguing that globalisation hasn't ended. The argument isnt whether is is over or not its about whether it has backfired. He must have misread the invitation email or something.

[@henrigutekunst2870]

🙄 Promo'SM