A Recalculation of Globalization

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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?

The Supply Chain Due Diligence Act: Protecting Human Rights and Ensuring a Sustainable Production

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The Supply Chain Due Diligence Act, coming into force on January 1, 2023, is intended to protect human rights and to ensure a sustainable production.Under the Supply Chain Due Diligence Act, companies are obliged to identify and assess human rights and environmental risks and to establish an adequate and effective risk management system.

Scope of Application:  The new law is applicable to companies having their head office, principal place of business, administrative headquarters or registered office in Germany and employing more than 3,000 employees. In addition, foreign companies with a branch office and a corresponding number of employees in Germany are also subject to the new law. From 2024 onwards, this threshold shall be reduced to 1,000 employees. 

Read on to learn more:  The New German Supply Chain Due Diligence Act (with a view across the border).

Lady Gaga Is Conquering the World

Lady Gaga, queen of American pop music, and her management team have decided it's time to focus on conquering the rest of the world.  One of her first targets, after Germany with its 'Top Model' performance finale (as shown above) will be India.

Read more here on how Lady Gaga is going global.