Debunked globalisation myths

A number of myths about globalisation have been debunked in recent years:?

>???Nowhere near everyone benefits from globalisation. On the contrary, free trade, international capital flows, technology transfer and so on have also produced large groups of losers. In this way, globalisation has, in a sense, created its own adversaries.?

>???Globalisation is certainly not a guarantee for democratisation. We have previously shown this via all sorts of lists that measure the extent to which democracy has taken root in countries. For example, China has benefited enormously from globalisation, while making no effort to implement democratic reforms. In fact, Xi Jinping is strengthening his grip on the party, and the party is increasingly dominating society. And globalisation has enabled China to gain influence in many places in the world, which it certainly does not use to plead for more freedoms there. China has been able to use globalisation as a growth hormone, and now it has an abundance of power, Beijing flexes its muscle more frequently, banging its fist on the table ever more forcefully. ??

>???Mutual economic dependence is certainly a motivation not to fight tooth and nail with each other, because you earn from each other. However, the First World War was also preceded?by a period of globalisation which did not prevent the ensuing misery. At this point – partly due to the vulnerabilities exposed by the corona crisis – relations between superpowers are deteriorating rapidly, in spite of close economic ties.

To read more about the links between (de)globalisation and the international political situation and the major implications for the global economy and financial markets, have a look at our Global Political Risks reports at https://ecrresearch.com/research/?area=gi_gpa.