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Globalisation - A Paradigm Shift




 The World Economic Forum’s annual meeting held at Davos has been the largest and most talked about more so as it is going to put an end to the thought process of a few countries who were of the view of the  end of globalisation. Leaders around the world recognise that the future workspace is going to be a hybrid - virtual and face to face.Lack of cooperation is immense in society. We need cooperation even more today as after the Russia Ukraine war and the Covid restrictions still not completely lifted in some parts of the world, the world needs a lot of healing, which is more so prevalent due to the self seeking policy making in society. The World Economic Forum in Davos seems to take this challenge heads on and put an end to this vicious cycle.Even today 1 percent hold 45 percent of the wealth. The system works for a few billionaires . This economic down turn is likely to trickle down in economies.


The complexity of solutions interdependence and connectivity of all these issues are the ones being discussed in Davos. Public private cooperation is needed much more than ever.Soaring energy and food  prices are the most talked about to further bring in collaboration and for conflict resolution.


Leaders around the world have discussed that globalisation needs reimagining,  for two reasons. The interregional flows of raw materials and manufactured goods, and the people, data, and capital this trade requires will never be undone.Every regional economy depends on the others for vital goods and services. Globally,  economic ties are strong and may be impossible to unwind.

Some of today’s biggest challenges go beyond borders they’re global in nature. Countries and economies everywhere are reimagining ways to build themselves up on the ESG framework as they are faced by challenges of building resilience in the face of massive disruption (including anticipating future pandemics, climate change), and affordably reducing carbon emissions, and building a system in which everyone prospers. 



Comments

  1. Twn Multitrade20 January 2023 at 00:34

    A really eye opening article. Is there a group for discussing topics? We all have ideas. I'm looking for some capable people to take things forward. Thanks.

    ReplyDelete

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