This articles puts forward a series of arguments that suggests that we have indeed reached or are reaching the end of globalization. ‘Growth in global trade has dropped dramatically, to even less than GDP growth. The change leaves one wondering: has the incredible transfer of goods around the world reached some sort of pinnacle? Have we exhausted the drive toward ever-more-globalization?’. ‘Joshua Cooper Ramo points out in an essay in Fortune that localism is on the rise – local banking, local manufacturing, and even local sourcing for food and restaurants. Is this simply a pause or could it be more than that? The answer will depend on politics.’ Is this actual’y the case if so who are the winners and losers. Is it the corporations that previously have been enjoying the benefits of globalization, that are now facing unstable and unpredictable demand and business opportunities and their products quickly become commodities, leaving them little or no pricing power and under constant pressure by new competitors that undermine profitability. Or is it the people who these corporations employ that will now be faced with a uncertain future. To me the losers are definitely the people these corporations and transnational companies employ, if localism is indeed on the rise then does that mean the companies will pack and leave the countries they went to because of the cheap labour. If so they take the livelihood of many people.
Paloma-Nicole Dias Dos Santos