Not all economists, politicians or members of the public are proponents of free(r) trade, but not so long ago, most would have agreed that increased flows of trade, labor and capital across borders have the potential to benefit societies as a whole. But in recent years, populism, nationalism and feelings of being `left behind' have thrown a spotlight on the `darker side' of globalization.
More than ever, geopolitics is reshaping the trade landscape --and rising global powers, protectionism and the growing importance of technology is just the start. Trade policy is cited as the biggest risk to global growth, and more than ever, it is being painted as a zero-sum game. For CEOs, this more nationalistic approach to trade is worrying for their own growth prospects: a 'Return to territorialism' is their number one threat to growth according to the KPMG CEO Outlook 2018.
In this video, Irina Vaysfeld, Trade and Customs Principal at KPMG in the US, and Alex Kazan, Chief Strategy Officer at Eurasia Group, outline the developments that clients should watch out for to better anticipate and respond to these rapidly shifting trade positions.
To find out more about what this could mean for your business, check out: