BRUSSELS ¨C Raising the drawbridge has been a response to war and pestilence throughout human history, and the tumultuous winter of 2022 has similarly led trading nations to turn inward ¡ª though talk that the era of globalization may be winding down seems premature.
The damage to international commerce stemming from Russia¡¯s invasion of Ukraine and the still unvanquished COVID-19 pandemic has made governments and companies more aware they need more resilient supply chains ¡ª even if that costs them more.
And as reliance on the mechanisms that drive the world economy gets called into question amid a scramble for resources, prominent voices ¡ª including asset management giant Blackrock¡¯s head Larry Fink ¡ª have warned of an end to globalization.
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