The new age of technology has connected all the world and created mass globalization. We are more interconnected than ever before, and our economies heavily depend on other economies. Although many countries talk of deglobalization and improved self-sufficiency, there are many areas where this isn’t currently feasible. Although the COVID-19 pandemic has had significant impacts on trade and will continue to do so, it’s unlikely to end globalization.
Hard-edged realpolitik is still lurking. With the rise of China and growing tensions with America, a conflict could be around the corner. Therefore, although globalization has offered fantastic opportunities, it has the potential to create conflict based on economics.
