Globalization's Next Phase is a Rewiring

©iStock/Sofiia Potanina 

According to a new report from consulting firm McKinsey, globalization is changing course — that much is clear.  But don’t call it a retreat, it’s just “reconfiguring," or "rewiring."

Today, international businesses are confronting the “complexities of an increasingly contested global order” where war, national security, supply-chain disruptions and technological change are all driving a shift in global trade flows.  The result of this shift, according to McKinsey, is that some supply chains could “shorten and become more regional” in the coming years.

Read more about globalization's next phase of rewiring.  Read the full McKinsey report, "Global flows:  The ties that bind in an interconnected world."