Centuries sometimes take a decade or so before their true contours take shape and the 21st is no exception. In an uncanny fashion, the beginning of this century mirrors that of the last — the speed, scale, and disruption of globalization is generating a strong nationalist backlash. We, in fact, are living in an era of Peak Globalization as the costs and benefits of globalization begin to diverge according to country, class, and constituency. The international political consensus of the universal economic benefits of globalization that defined much of the 20th and early 21st centuries is breaking down. The centrifugal forces drawing nations toward globalization are giving way to centripetal forces pulling them away from it. Looking forward toward the next decade and beyond, we are seeing countries increasingly prize sovereignty over multilateralism, national interests over international cooperation, and local constituencies over global populations. In short, the tide of globalization washing across boundaries for so long has reached a peak and is receding. The result will be a more uncertain, chaotic and dangerous world that feels more like an old Cold War than a new End of History.
Peak Globalization
Centuries sometimes take a decade or so before their true contours take shape and the 21st is no exception. In an uncanny fashion, the beginning of this century mirrors that of the last — the speed, scale, and disruption of globalization is generating a strong nationalist backlash. We, in fact, are living in an era […]
December 20, 2010
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Global Collaboration. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to overcome barriers when working globally.