Theodore Levitt, the Harvard Business professor credited with coining the term, globalization envisioned a focus on interdependence across borders. However, he has seen its foundation shake of late. From The Wall Street Journal (April 29, 2015) comes this headline: “Is Globalization Finished?” And this fromThe Economist (June 25, 2015): “Globalization’s Retreat?”

Here’s the reason for the apparent retreat, courtesy of Gary Hufbauer, former U.S. Treasury official, writing on www.ideaslaboratory.com, General Electric’s thought-leadership platform:  “Globalization… is actually not flourishing. For seven years and counting, world trade growth has failed to outpace — and thus drive — world GDP growth, while annual world foreign direct investment flows have fallen well below their 2007 peak of $2.2 trillion. ’Micro-protectionism’ has become the political flavor of the moment, exemplified by ‘Buy America’ and ’Buy Brazil’ practices.”

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access