Can Globalization Survive in an Increasingly Fragmented World?

Feb 15, 2024 | 16:37 GMT

(KanawatTH/Getty Images)

In 2024, a series of presidential and parliamentary elections will determine the political direction of countries accounting for roughly 40% of the world's population and about half of its GDP. While each of these elections will be different, many of them will see nationalist parties perform strongly thanks to a rhetoric that seeks to mitigate (and in some cases reverse) the effects of globalization. Some of these parties and leaders promote protectionism to shield domestic industries from foreign competition, others are critical of international organizations that they perceive as undermining national sovereignty, and many present immigration as a threat to national identity, security and job opportunities for their country's native populations. Considering the combined economic weight of the countries holding votes this year and the underlying socio-economic trends behind the anti-globalization sentiments, a question comes to mind: how will these elections impact the evolution of globalization in the short-to-medium term? ...

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