Tag: USA

My War on Globalism 26

Pursuing greater self-sufficiency also comes with other risks that are harder to quantify. When the pandemic spread, for example, nearly every nation in the world turned inward, closing borders to try to keep the virus out. No country did it more thoroughly than China, which has now kept its borders shut for more than two years in… Continue reading My War on Globalism 26

My War on Globalism 25

Throwing globalization into reverse has forced big changes in corporate strategy. Resilience has become the new buzzword, replacing the just-in-time strategy that led many companies to save costs by reducing inventory and relying on efficient global distribution networks to source components and get products to customers on time. After several years of supply chain disruptions… Continue reading My War on Globalism 25

My War on Globalism 24

Reversing global integration has predictably raised inflation, especially in the United States. The Trump administration’s trade tariffs—and retaliation by other countries—drove up U.S. prices for lumber, steel, aluminum, solar panels, and household furnishings. The COVID-19 pandemic then brought factory shutdowns, severe border restrictions, and huge consumer demand for goods as the service economy all but shut down,… Continue reading My War on Globalism 24

My War on Globalism 23

Now that the disruptions are piling one on top of the other, a new consensus has taken hold in the world’s advanced economies: It’s time to deglobalize. The better path now is to control borders more tightly, build resilient supply chains, pursue self-sufficiency in critical technologies, and inflict trade sanctions on adversaries regardless of global… Continue reading My War on Globalism 23

My War on Globalism 22

For decades, the critics of Globalization were mostly ignored because the benefits of global integration were simply too compelling to those who pulled the levers in government and large corporations. The dissenting voices could only throw a bit of sand in the gears. They forced globalization’s cheerleaders to accept a few minor brakes on unfettered… Continue reading My War on Globalism 22