what is deglobalization
reducing interdependence and connectedness
prioritizing national interest
economic self sufficiency
greater protectionism
turning away from global gov orgs
Drivers of deglobalization
disruption to supply chains
anti immigrant sentiment
environmental- economic inequality
what were the three phases of deglobalization
Phase 1 2015-18
Phase 2: 2020-22
Phase 3 now
what happened in phase one of deglobalization
Brexit+first round of tarrifs on china
what happened in phase two of deglobalization
covid, ukrain war
what happened in phase 3 of deglobalization
trumping tariff wars; friend shoring, restoring, anchoring
what is friend shoring
rerouting supply chains to countries seen as politically and economically stable
Why Brexit?
euroscepticism+ loss of sovereignty
left behind populations
anti elite sentimate
fears about loss of English culture
shires vs cities
generational divides
effects of Brexit
increased non EU immigration
diminished rade
disruption to supply chains
political division
diminished military strength
long exit process
The changing world order
Bipolar world of post ww2 US vs USSR
unipolar moment
multipolar world of today
what resulted of the bipolar world
split and who aligned with who+ “non aligned movement” India Tanzania, Egypt
unipolar moment
post fall of USSR when US was most economic in militarily powerful
The new world order
TRIAD
ASEAN
BRICS- Goldman Sachs
TRIAD countries
USA EU Japan
ASEAN
mostly southern asian got population, export market+ blue economy anti china rise
BRICS
Brazil, russia, india, china, África plus others
why brick is important
%55 global population
44% global economy
22% world exports
31% global military spending
importance of braces
challenging dominance of western economies
growing interdependence
de dollarization
internal tensions?
Shanghai cooporation organization
Eurasia political economic and security organization 2001
