It's sad that while a very thoughtful video essay failed to mention the importance of protecting the environment for future economic stability. Short-sightedness will make the world a darker place in the future.
@KELLI2L2 Just to be clear are you trying to say the climate crisis is a real problem exploited by the elites for money and power? In that case i do agree to some extent or do you really believe it's one big conspiracy because there's heaps of strong scientific evidence to debunk that claim. Covid is a very small crisis compared for what awaits us when our natural ecosystem collapses, its just more gradual.
Unfortunately this renewed nationalism may hamper global coordination and accountability in ensuring the sustainability of supply chains as individual nations race to reindustrialisation.
@@VincentZwane The earth's ecosystems have suffered greatly during globalisation. Bringing production back home to countries with higher environmental standards is necessary. Hoping authoritarian countries would follow labour and environmental standards has failed. No surprise- no carrot, no stick, no monitoring, fake certificates...
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change" -- Charles Darwin
@Thomas Headley Charles Darwin and Adam Smith's discoveries have been invaluable to the development. Most people do not understand how important their findings are.
@K D The modern concept of eugenics was proposed by Charles Darwin’s half-brother Francis Galton on the basis of Darwinism and Darwin’s theory of natural selection, not by Darwin himself. In fact, Darwin opposed Galton’s idea, believing that it would endanger the instinct of sympathy, “the noblest part of our nature”. Following Darwin’s death, eugenics supporters have cited Darwin’s theories to promote eugenic policies that went against Darwin’s humanitarian principles.
i mean globalization has shaped the modern world the people you see, meet, form relationships with, the food you eat, the technology you use, and so much more. Unfortunately more local might be what the world needs right now by necessity
A global economy based on the idea of infinite growth. Infinite growth of the human population, infinite growth of consumption, infinite extraction of resources. On a planet that is finite. What could possibly go wrong?
@AN N That is why each country must do what is best for themselves instead of worrying about other countries and what they do. If I see something that says "made in China" or "made in Pakistan", I simply refuse to buy it. No more. I am done with these foreign nations robbing our economy and destroying our small businesses.
@@purplenights1 But here's the problem, the rest of the world can also refuse to use the US dollar, why use the US dollars if you can't sell your products in America. The world is so complex my friend, it's either nationalism or globalization no in-between
In a world with infinite human ingenuity spread across five continents. Think of how much food a farmer could grow in the middle ages vs now. Yes we have more cars but they pollute less than they used to and some don't emit anything. Our future involves clean solar and wind energy with battery storage and possibly fusion power. Nuclear fission plants can help the transition to clean energy because they don't emit any CO2 and the waste problem is about to be solved.
El reportaje habla sobre la globalization, no habla nada sobre el fin de la especie. Te lo voy resumir : Ustedes los denominados paises ricos dejaron que China se convertira en la fabrica del haciendo que cada year tuviera un superavic comercial inundando los mercados mundiales con sus productos. Si quieres mas informacion ve el video en Netflix Vaya historia sobre el auge de China.
@@davidparra8248 china solo tendrá su mercado que si es potente pero manufactura llegará o será relocado en países que no sean China Los productos de china son de muy baja calidad en todo respectos y no hay muchos materials o procesos que no se puedan hacer en otros países con mayor producción Los Estados Unidos en toda probabilidad tuvo esto en cuenta pero con todos los males que tienen los E.U, ellos no tienen mucho que perder
Anthony Meza Pffft, Get your facts right. Facts are omnipresent. It takes seemingly forever for humans to shed their belief system blinders to finally discover the facts.
Local supply chains have lot of sense, emissions wise... I still remember this story - British seafood shipped to Thailand - and back - just to have the shells removed
@@NyanyiC The problem is they don't want immigrants to remove the the shells, they want to be paid to remove the shells but for livable wages in the West. Only the problem is, that would make the seafood too expensive for most people to buy. It's sort of a circular problem. A lot of old blue collar workers who were left behind, refuse to understand their old style manufacturing jobs are gone forever. You can bring the work back but it will be automated. I suppose the only way they will understand is when all of it is automated in the west and nothing it done overseas and they still don't have jobs.
Ask British people to remove the shells makes more sense? How much do you paid for that? How many labour can you recruit? Not even mentioned the labour law. That's why globalization existed, because it makes more sense, business wise.
@@NyanyiC But the immigrants already in the UK perhaps don't want to do that work. I suspect the Thais have figured out how to get the shells off and aren't going to tell anyone else how. Wise people. Globalisation shows us that the ones with the IP, tech and know-how stay on top, so long as they stop others thieving their property.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him.
@Nicholas L British person here, what did Boris Johnson achieve as PM that makes him greater than any other PM? Standing against one of the vilest regimes of modern history? Oh wait, that was Winston Churchill. Implementing the NHS? Oh wait, that was Clement Attlee. Boris’ half-hearted response to COVID-19 doesn’t stand up to these. (No, I do not believe Winston Churchill was perfect. Yes, I am aware of his actions regarding British India)
@@zammit1683 Value means everything in times of having nothing. You'll find some of the most rewarding people to be around have nothing to offer but themselves.
@@TheREDACTED141 because not all difficulty provides opportunity. Sometimes a difficulty is a result of missed opportunity. Before Covid we already have Ebola and MERS, but we didn't prepare with these two lessons as opportunities.
“There are no nations! There is only humanity. And if we don’t come to understand that right soon, there will be no nations, because there will be no humanity.” ― Isaac Asimov
On the contrary there is no "humanity." There is no "world." There are discrete cultures and nations, and any fantasy to the contrary can only exist when one country (lately us, the U.S.) is in charge. What a coincidence that America losing it's sole hegemony has also led to the breakdown of globalization, accelerated by Covid.
@@princevelkan295 What are you talking about? Slavery it's long gone and ppls will never agree to something like that, let's me guess tho, Bill gates will control everyone's minds with chips?
0:51 Clothing/garment industry 9:27 The “on-demand economy” 13:38 “The broader solution is to make interdependence work, with resilience. That’s the challenge that global leaders face today.”
I came here to watch the B.S The Fake "News" comedy special again... Always telling me what to think instead of thinking by my self. Voting for Trump now!
This may result in the development of regional trade networks instead of long haul supply chains. Were seeing trade deals like ACFTA, the CPTPP and the EU reaching out to Asia in Japan and Vietnam. It may stagger development temporarily, but it will result in a more multipolar world of large developed economic blocks instead of the current unipolar or bipolar world of the US and China
It not convincing to say reaching Japan and Vietname could be solution. Let us keep our fingers crossed. Those countries are as far away as China in terms of supply chain length. And Nationalism is fundamentally about the suffering of the local bluecollar workers due to golbalization and pupulists who hate geting robbed of local jobs by any foreigners and welfare shared with immigrants.
Here's hoping that it does. Globalization destroyed local economies in it's favor, and I'd much prefer to have a subdued local economy over a booming globalized one.
Yeah i'd rather have a strong self sufficient economy even if it means paying more for tvs and clothes, the current system benefits mostly thoses with large disposable incomes who aren't spending 80% of their salary on food and rent.
Though most of us thought globalization would likely be a largely positive force, we did not anticipate then that globalization could gradually become dangerous, infectious and hard to control.
They are not mutually exclusive. Its cheaper to have automation than expensive first world labor but automation is still more expensive than setting up industries in developing nations which they may in the future be prevented from doing. Any time you increase the cost of business you reduce margins available for reinvestment; investment in capital and research and development creates innovation which drives long term economic growth. The Economist is saying they will be forced to adopt innovation in this area (automation) which artificially increases costs reducing investment and innovation in other areas.
It will never happen. It’s like asking the Spanish Inquisition to forgive a witch, no way. They need to set an example in case anyone else chooses to release secrets.
I really hope that a focus on regionalism leads to governments consolidating regional organizations and strengthening them to create less regional disparity, not only in the economy but in formal political institutions, the rule of law and infrastructure.
What is expected to happen to swaths of factory workers in asia, once north america and europe migrates to expected manufacturing automation. They are supposed to build self supported, consumer/services led models. Will China play the part of more mature economy and support the emerging nations as it was supported in it's own days of development? It seems most economists are not talking about how asia will emerge as an ecosystem which supports it's own growth?
I've always been sceptical of globalization, and as you see with today's world all the power of trade is held with a tiny number of companies and nations. More nations around the world need to become self sufficient so when the world gets hit hard by a global problem, they can survive.
@@ritdhar6579 I agree some nations it would be impossible, but others can cut down consumption on certain things, or just cut back completely. There are so many materials and products traded we just don't need
@@jamesmacdonald1116 yes sir true. But look at the broader picture. If you don't buy enough or you only buy the things you need then other countries which sell them will face problems. In other words, your profit is someone else's loss. Now this is the mother of all problem, because they also do the same to you, cut back of sales, increase tariffs and start a trade war. Also if countries become self sufficient, they will also block global internet players like facebook and google and make their own facebook and google, much like china. So their will be localisation in internet as well. But most countries cannot afford them so they will be owned by the super powers. For example india is banning chinese apps. They are instead making 'made is india' apps. Now if china hits back, india will have to hit back. But india's economoy will not permit it and will try and become an ally of america who will in turn try to exploit india. All in all, pure mismash is what that awaits us.
Aside from applying for open positions, how does one get involved in researching &/or writing for a magazine/organization like The Economist? I like the scope of the video. Some of the historical data takes me back to the trends we students [at the time] were identifying while in school.
it must be hard and sad to think that job opportunities, employments, businesses fades away before our very own eyes. We must admit that during this trying times we depend on our government to help us get us through, while we are not aware that our government economic suffered on its own. The occurrence of pandemic did not at all about struggle however it is a challenge for us ; world leaders, businessman on becoming optimistic about the situation, Indeed globalization is in its dark phase but will not stop there, it will just slow down as expected, i agreed with what the economist think about the future of globalization those who will survive this crisis are people who works independently and becoming resilient over time. For instance buying locally made products will boost the economy of one’s country. Due to travel restrictions people may have the time to visit its own country’s tourist attractions this means more income for small businesses eventually will stay afloat.
Local communities should become more self-sufficient in terms of Energy, Food, and manufacturing. With technologies such as Solar/Wind, Indoor farming, and 3D printing, it is getting more achievable at a certain level.
Not every country CAN become self-sustaining, with very few exceptions. The U.S. could probably do it. They have domestic access to everything they need for manufacturing. The problem is making all those resources last.
@@ish562 And the United States is planning to do to Africa what it did to Latin American, most of Asia and the Middle East. And we all know what that is. (Spoiler alert: it might not go quite according to plan for Captain America this time around though).
I think we are so into globalisation there's no way back. Our cultural goods are all global. Internet created a global culture that will overcome the hurdles of financial crisis, pandemics, nationalists governments and stock market change. What is problematic is the wealth distribution. This polarisation will have dire consequences
There will always be extremists who feel hatred for others. Even simply bullies. So many people get bullied daily and we haven't been able to stop all of them. We have a long path to go to create strong connections of love and care among people. We can start by being caring and loving to the people around us.
Ok then you must start by giving up your free time and extra money to help those. That's how it works. It's easy to say this basic stuff but when it comes down to you, there's always excuses. "I don't have as much money as these guys". "I need to look after my children". The only thing that works is abiding by the law. Thats why the magna carta created in England, and the US constitution are very amazing tools that really changed the world
Focusing on 🇧🇩 Bangladesh's 🇧🇩 garments sectors and its financial hard times during this pandemic offers me an exclusive glimpse into the sector plus its employees who are exploited at the sector.
Yes, please!!! Inspite of its horror, this crisis has had some positive side effects. May one of them be a move forward to a world where every one respects nature, consumes locally and in sustainable amounts !
Thanks for sharing, very interesting information about Globalisation from its begining up to now. It´s a very big challenge for our western countries because these ones have been placed in the far eastern world. We have forgotte that money is not all
The question should be needs vs wants. As long as I can pay my bills, I am happy. There are so many things I do not "need". And when you spend money on needs instead of wants, well, there you go. You have to learn to budget and live within your means.
I wish we could just break the internet eternally. As my great-grand-uncle Normal Filsk used to say, "The less you know, the better. The more you know, the worse."
Ah but how can one achieve such liberation in a simple fashion these days? I am working on it though the fruits of my labour have yet to be fully realised. Thank you, brother, for the concise words of wisdom. You are right.
‘In that time things can go out of fashion’ Lol humans craving to impress someone with the new fashion. Spending thousand dollars just for the fashion just to wear them for a small amount of time
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him.
other people are attracted to people who are wasteful and show it off by wearing expensive clothes. It's like crashing your expensive car and everybody instantly thinks your awesome... oh... wait... only if you emerge without a scratch from the wreck looking cool with spotless garments.
Those who are against globalization and AI today will be the most disadvantaged in the future. Think about what happens when you subsidize Blockbuster to stay afloat against Netflix. It's at best a slowing of the inevitable. But if you don't artificially support Blockbuster and allow for Netflix innovation, there will be more GDP and inequality. So the conversation requires coupling the support for free markets with some form of universal basic income.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him..
@@sunroad7228 Yes, I got it. Shamefully, I wasn't familiar about the Fifth Law of Thermodynamics. I just read about it but I understand it now. Makes a lot of sense. Thank you for putting it out here.
The Supreme Archailect globalisation will continue, just more fragmented, it’s already being divided into US and China dominated parts of the globe. And China is moving very fast to build and interconnect their part of the world.
@john smith less fox news mate, thinks are not as simple as right-wing populist portray them to be. Which of course is well known to every highly educated person
look I'm very happy I live ..; I'm very grateful I've got this very beautiful gift ... BUT ... one thing needs to happen and very quick and that's DEPOPULATION .. this is in my opinion the number ONE source for a LOT of problems and tensions
Evolution towards two disparate worlds, one authoritarian, the other democratic, seems locked in. Decoupling of tech and hardware should lead to faster tech and hardware improvement. Like any warfare, unrestricted digital war should push tech development to the limit.
Zara's regional sourcing model seems proper to automotive parts industry too. Similar to fashion trend change, quality issue or design change can bring big loss on those parts under delivery of 40 days.
I assume Covid as a strong Flu which has occurred every year. Usual Flu may be able to be fatal or no-symtom by the situation at first contact. If the person health was bad or in cold outside, it can be serious, this seems same to Covid. Covid is just seemed little more dangerous. About Vaccin, did we have omnipotent Vaccin for all kind of Flu ? Absolutely No. But now it seems we expect omnipotent Covid Vaccin. Is it possible?
The Uk brings nothing to the table except its financial sector which is infested with white collar crime anyway. We hardly produce anything. The UK is on its last legs, the massive empire it is built on won't sustain it for the long term.
@@ZahdShah don't agree with that. It will not be easy for UK in 5 first years but they will manage. And my personal opinion at least the main topics are gonna be decided locally, in the country. Not by EU. Which is so far away from average human.
An excellent presentation but you didn't stress SUSTAINABILITY. A more locally-based economy could mean more consumption of local produce, fewer food lorries on the roads and less pollution. Polluted air is a big factor in contracting Coronavirus, as is mass consumption of processed foods. Let's take this opportunity to get back to Nature a bit and create a more sustainable world.
Re localization of Sustainable Collective Agriculture is the first priority in restructuring the fractured global system of commerce/ Compensation system that has collapsed. Food is our first priority. This is an agro tech paradigm shift! Shine Bright! MWM
@Nospam Spamisham let me explain you something Listen... Why a single person is able to be a Billionaire or millionaire?? 2 main reason -- 1st ) you aren't playing enough to your company worker wrt to your own income ... That is even today they are doing and that's why I made this comment and 2nd , you are selling your products unnecessarily costly to your customers in the name and extra taxes which you the CEO is consuming your self indirectly... And this can't keep happening... If you are using cheap labor for manufacturing something then you must have to reduce the prices...
@@HelloMedicAnkit why are you laughing? I doubt you know how prices are set, or even fully graps the basics such as supply/demand so I dont think you should be going on critizing something so rational as capitalism with emotional pressumptions before actually understanding it. Read up on Thomas Sowell at minimum, Or if you are busy, simply watch economics explained
Global trade doesnt serve national interest in the US, Capitalism and Efficiency are absolutely useful once they are confined to a more regional system like NAFTA or ASEAN.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him.
