Release of Ten ‘Quick Wins’ for Re-globalization and Resilience in Trade

The year 2024 marks a global election cycle with over 80 countries, representing more than half of the world’s population casting their votes. In these uncertain times, the world finds itself confronted by a state of “polycrisis”—a complex web of interconnected global challenges that transcends borders. Geopolitics and international trade have a critical role to play in driving solutions to these crises. 

As many countries continue to navigate the aftermath of the COVID-19 pandemic, the world contends with other pressing issues such as the increasing urgency of tackling climate change and addressing the fragmentation of traditional geopolitical alliances. As nations confront various stressors, including ongoing conflicts in several regions around the world, these interconnected issues have heightened uncertainties and undermined the previously robust support for open trade. 

Consequently, countries are increasingly looking inwards, focusing on reshoring, “friendshoring,” and forming strategic alliances. Amid these shifts, there has been a noticeable backlash against globalization and free market economics, accompanied by a global rise in support for interventionism, a trend showcased by the growing embrace of industrial policy. In this evolving context, trade has emerged as both a strategic instrument and a point of tension, as demonstrated by the simmering trade war between the United States and China, and fragmentation spurred by competition among geopolitical blocs. 

We invite you to read the report and join the conversation.