Deglobalization and the unpredictability of global business have led technology-based industries to review their overall strategies. Current geopolitical changes—the war in Ukraine, effects of the pandemic, and greenhouse gas emission targets—revived discussions about the value of globalization. However, international trade of goods and services has been slowing down significantly since 2011, with increasing nationalism being a factor. Additionally, lower salary differentials between developed and emerging economies have reduced overseas product shipments—which are increasingly criticized regarding environmental impact. So, how can industrial companies ensure growth in today’s global markets?
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Source: Phys.org