In conjunction with Covid & supply chain disruption and straw on the camel’s back affecting the globalization of the world’s economy.
This article was in Washington Post according to MSN.
https://www.msn.com/en-us/news/world/russias-ukraine-invasio…
Russia’s invasion of Ukraine and the financial reckoning imposed on Moscow in response are proof that the triumphant globalization campaign that began more than 30 years ago has reached a dead end.
But the war’s long-term consequences could be more profound. Even before Russian President Vladimir Putin sent tanks and missiles hurtling toward Ukraine, years of deteriorating U.S.-China relations and failed global trade talks had stalled the tighter integration of finance and trade flows that had been anticipated during globalization’s heyday.
With the United States, Europe, Canada, Britain and Japan uniting to punish Russia with unprecedented financial sanctions, the war has triggered a “major geopolitical realignment” akin to the aftershocks from the 9/11 terrorist attacks, according to Citibank analysts.
Global trade and financial links also have plateaued.
Financial markets that once rose and fell in near lockstep are increasingly going their own way, according to MSCI research. A decade ago, markets in different regions moved together about 80 percent of the time. Today, the correlation is a bit more than 50 percent, reflecting “less of a globalized economy,” according to Peter Zangari, MSCI’s global head of research and product development.