The end of an era: from globalisation to autarky

Weeks when decades happen

clock • 3 min read
Graham Harrison of Asset Risk Consultants
Image:

Graham Harrison of Asset Risk Consultants

Lenin is quoted as saying “There are decades where nothing happens, and there are weeks where decades happen”.

That is certainly the way it feels right now. Until recently, the world has been on a multi-decade path of greater integration, both at the geopolitical level and so far as economic activity is concerned. Indeed, since the start of the new millennium, globalisation has gathered momentum and, until Trumpism, Brexit and Covid-19, it was a dominant factor driving financial markets.  As predicted by Adam Smith, the Scottish economist and philosopher, the pursuit of comparative advantage supported and enhanced the wealth of nations. While there was sometimes vigorous debate around the fair di...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Global

European-focused investment grade and high yield credit have highest inflows since April 2020.

Fixed income dominates ETF flows in July

Accounted for $32.5bn

clock 08 August 2022 • 2 min read
“Rates are going above 4% - today's number should put to bed any doubters.” - Seema Shah, chief strategist at Principal Global Investors

Further 75 basis points hike 'almost a done deal' as US labour figures beat expectations

More than double predictions

James Baxter-Derrington
clock 05 August 2022 • 2 min read
The Big Picture: What were the biggest stories from July?

The Big Picture: What were the biggest stories from July?

Recapping the top stories

James Baxter-Derrington
clock 04 August 2022 • 1 min read
Trustpilot