The Great Debate
As the European Union and the United States ramp up their sanctions on Russia, President Vladimir Putin’s plans for retaliation seem to include an attack on McDonald’s. There could not be a more powerful symbol that geopolitics is increasingly undoing the globalization of the world economy.
Twenty years ago NAFTA, the most ambitious free trade agreement negotiation of its time, gave birth to a profound transformation of the economies and the regional value chains of Mexico, the United States and Canada. Trade dramatically changed the relationship between the three countries, though asymmetries of power and economic vitality persist.
We live in a global, digitally networked world. Cloud, mobile and in-memory technologies are its engines. Our new world has no boundaries; there is a huge potential for growth, employment and new business models. But it also comes with challenges for policy and industry.