Wednesday, December 06, 2023

A Recalculation of Globalization

The current interconnected global economic system just isn't working, some economists say. They are calling for a recalculation of globalization, and what it means to be wealthy, independent, and secure.

Globalization has had a rough time lately. Worldwide, just-in-time supply chains suffered under stiff tariffs. COVID-19 shutdowns and travel restrictions caused further distress. Now, the war in Ukraine and sanctions on Russian companies are making matters even worse. Inflation and price increases have made energy and food more expensive. Ordinary customers, especially the poor, are suffering.

Does Germany in particular have to rethink globalization?

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