Globalization, some say may soon take a backseat, in the face of growing slowbalization. The entire 20th century was defined by globalization and the fervor it created. Blurring boundaries for cultural, trade, businesses and knowledge exchange were some institutions created by globalization. It expanded market, came to include a school of products and its parts and made movement between trading countries easier and more profitable. It also catapulted economies of countries like China, that in recent times is becoming more and more self-reliant. MRI’s research analysis reflect how globalization though may seemingly appear to be a deplete philosophy, it may not purely be on its way out.

Slowbalization, a wordplay on the formal approach, believes in localized stimulants to propel the economies of the countries, this now includes the most recent technologies, especially developments in AI, machine learning etc. An estimated 18% of goods trade rely on labor cost, which will soon reduce with companies becoming automation compliant. Offshoring jobs may also witness a fall. Local made, local produced are also concurrently a result of the success of globalization, that made certain economies tremendously successful, that increased purchasing powers and snowballed regional trade preferences over global trade. The markets of these economies have become intra reliant, producing and manufacturing for the consumption of its own population, creating its own industry chains. Share of goods making voyages across territories has fallen from 28.1% to 22.5% from 2007 to 2017. As a result, the present climate is seeing exchange of services rather than goods among countries.

Studies and literature have revealed that globalization’s doom may come due to various factors that extricate US’s present tariff policy. The Levelling: What’s Next After Globalization, book by Michael O’Sullivan offers four key issues in the post-globalization world; political discontent, economic growth, debt and central banks and geopolitics.

MRI experts, study the axis more robustly, where on one hand, growing independence spells that globalization may be on shaky grounds, soon to vanish, there are others that say that it may not be the case. Globalization in its present form is evolving. The real problem lies in the definition of globalization that created the misled understanding. Tech wars are predicted to create more clear boundaries. The same technology and digital interface may be the very next stage of globalization, if we move away from a strictly goods trade version of globalization. Data exchange is the prevalent seed of the transformed global landscape. Digital economies can survive only in an open borderless global expanse, where the rights and expertise to make goods are being exchanged rather than their physical make. Countries are rather coming together to assemble a single product created through fragmentation.

What may be touted as the new stage of a changing world economy, may very well be just a shift in the plain with further investigation required. MRI analyses industries and markets in their changing state, these approaches have a strong impact on how these market processes operate, with altering consumer preferences, technological advancement and the trade interactions.