Why globalisation is passe

Rising nationalism and a retreat from global alliances signal a restructuring of the geopolitical order

Between war and peace is a place of rivalry, conflict and pervasive insecurity for most of history. We are emerging from what has been by historic standards a long period of peace — one which encompassed the working life of most business leaders. During this period, the world was benign, with minimal conflict, rising average prosperity, and growing global physical and digital linkages.

On the other hand, rising tariffs, trade wars, and instability in the eurozone and Brexit have undercut the dominant consensus that global trade benefits all. After seven decades managing in a world of rising average prosperity and